Due to the supply-led stimulus in the recession, household income sharply declined, exports to large corporations increased, chaebols invested in the United States, and the high price system was outlined in the surge in raw material prices.
Due to the recession that began in 2019, operating profits for large corporations surged in the first quarter of this year, and household income is plummeting.
Household property income decreased by 14.4% in the first quarter, and income from households with two or more people (3.45,000 won) dropped 3.5% from a year ago, falling for the fourth consecutive quarter.
The household's business income (767,000 won) declined 1.6% for two consecutive quarters, and the first quarter of this year returned to a situation where the household's labor, business, and property income decreased in the first quarter of last year during the early days of the coronavirus.
For the top 100 companies, operating profit of 17 trillion won in the first quarter of 2019 plunged 48% in the first quarter of last year and then soared to 34 trillion won in the first quarter of this year.
Exports that led the boom in large enterprises were $50.2 billion, up 41.2% year-on-year in April, and imports were $50.8 billion, up 33.9% from the previous year.
Exports increased in April for semiconductors (29.0%), passenger cars (75.2%), petroleum products (94.3%), wireless communication devices (69.2%), automobile parts (98.4%), ships (14.4%), and home appliances (90.6%). %), etc.
Overseas sales (total convulsions) representing the exports of the top 100 companies decreased from 2016 (642.1 trillion won) in 2018 (750 trillion won) to 2019 (734 trillion won) and 2020 (693 trillion won). The recession seems to have started in 2019.
Exports increased for 6 consecutive months to China after Corona (more than 20% increase for 4 consecutive months), while the U.S. and European Union increased for 8 consecutive months, while imports increased to China (19.5% year-on-year increase and decrease rate) and United States (27.7%). %) It is expanding to the European Union (32.6%) Japan (21.4%) Middle East (53.6%) Australia (56.0%) and Vietnam (36.5%).
On the 19th of the ROK-US summit meeting, four major chaebol presidents, including Samsung Electronics, Hyundai Motors, SK LG, and President Moon Jae-in announced an investment in the US of 40 trillion won.
The OECD's Economic Industry Advisory Committee (BIAC) report revealed on the 19th that 89% of economic organizations in member countries came out “after the end of next year (pre-corona level)” to recover the unemployment rate.
Regarding the prospect of China's economic and trade policy (2021-2025), the Korea International Trade Association Institute for International Trade and Trade decided to reduce the dependence on external core industries through the'double cycle' of'domestic demand growth, exports subsidiary'. It's an independent economy. It was predicted on the 20th that the conflict structure with outsiders such as the United States will be further fixed on the trade issue with the end of the external economic growth of export and investment dependence.