Korea has become the ninth country in the world to achieve one trillion dollars in trade. In celebration of this historic milestone, Korea Post issues commemorative stamps to mark the occasion.
When the Korean government was first established in 1948, the Korean economy was suffering from widespread poverty and underdevelopment, with a trade volume which stood at a mere 230 million dollars. But as the country underwent rapid industrialization from 1962 with emphasis on trade and particularly exports, its trade volume skyrocketed to 1 billion dollars in 1967, 10 billion in 1974, 100 billion in 1988, and just 23 years later, 1 trillion dollars in 2011. Achieving 1 trillion dollars in trade, which opens a new horizon of the Korean economy, signifies Korea's newfound position as a trade power, now capable of making its voice heard in the global economic arena.