S. Korea to promote digital export platform

SEJONG, Oct. 14 (Yonhap) -- South Korea will provide full support to better serve exporters with a digital platform in the latest move to boost outbound shipments, the country's chief economic policymaker said Monday. Finance Minister Hong Nam-ki said a digital trade support platform will help exporters in export procedures such as contracts, customs clearance and logistics. South Korea's exports fell 11.7 percent on-year to US$44.7 billion in September, extending their on-year decline to a 10th consecutive month due to weak prices of semiconductors and the yearlong trade row between the United States and China. Outbound shipments of chips declined 31.5 percent on-year to $8.5 billion in September, dealing a blow to South Korea, as semiconductors account for one-fifth of its exports. Hong also said the government will speed up the spread of eco-friendly vehicles and put in place a system and infrastructure for fully self-driving vehicles. In January, South Korea said it will increase the number of hydrogen fuel cell electric vehicles to about 80,000 units by 2022 as part of a broader effort to boost the hydrogen economy. A hydrogen fuel cell electric car only releases water vapor as it converts stored hydrogen into electricity to turn the motor. Global carmakers have been racing to go eco-friendly amid tightened regulations on emissions of greenhouse gases, which scientists say are to blame for global warming. Hong also said the government will set up a movie planning and development center to boost the country's cinema sector. South Korean movies have gained ground in recent years, despite an influx of big budget Hollywood movies. In May, South Korean director Bong Joon-ho grabbed the Palme d'Or at the 72nd Cannes Film Festival, the festival's highest honor, for his black comedy movie "Parasite" that revolves around a poor family that lives in a squalid, grubby basement. entropy@yna.co.kr (END)