A new study suggests that if current trends continue, South Korea could overtake Japan to become the fifth-largest exporter in the world in about seven years.
According to the study by the Federation of Korea Industries, South Korea in 2019 ranked seventh in terms of exports with about 540 billion U.S. dollars' worth.
That accounts for about three percent of the global market.
KFI projected that if the country's exports keeps growing at a rate of one.six-eight percent, as they did on average from 2011 to 2019, then it would pass Japan in the latter part of this decade.
South Korea's share of global exports is about seven tenths of a percentage point smaller than Japan's.