Exports of Korean Washing Machines to Russia on the Rise Sep 27, 2004

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South Korean washing machines are gaining popularity among Russians, leading to a sharp rise in exports this year, a trade agency said.

Exports of Korean-made washing machines to Russia jumped 51.7 percent year-on-year to U.S. $54 million in the first 5 months of this year, the Korea Trade-Investment Promotion Agency (KOTRA) said.

South Korea accounted for 32.3 percent of the Russian market for washing machines, trailing market leader Italy, which has a share of 36.3 percent.

Two years ago, South Korean-made washing machines made up a mere 9.4 percent of the Russian market.

"Russians want to own Korean-made washing machines as well as other home electronics products," a KOTRA official said. "Brand recognition of South Korean goods is very high among Russians." (Yonhap)

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