SEOUL UNVEILS SHOPPING LIST OF U.S. GOODS
South Korea unveiled a shopping list of
2.6 billion dlrs of U.S. Goods in line with its new policy of
seeking to limiting its trade surplus to ease trade friction
with Washington.
    The government said this would help freeze this year's
trade surplus with the United States at the 1986 level.
    "The surplus, which rose to 7.4 billion dollars last year
from 4.3 billion in 1985, was projected to top 10 billion this
year but the government has taken steps to constrain it to the
seven billion dollar level," one Trade Ministry official told
Reuters.
    A government statement said the 2.6 billion dlrs was in
addition to about two billion dlrs of purchases made last month
by a South Korean trade mission to the United States.
    The announcement follows a visit here this week by U.S.
Commerce Secretary Malcolm Baldrige, who said that if South
Korea wanted to avoid protectionist retaliation it should not
falter in its policies to open its market and cut its surplus.
    The statement said the government, state agencies and other
public institutions would buy 480 mln dlrs worth of U.S. Cars,
computers, helicopters, ambulances, motorcycles, medical and
laboratory equipment and other products. "This amounts includes
89 mln dlrs worth of purchases which were not originally
reflected in their budgets," it added.
    The list includes 1.13 billion dlrs of capital goods, 700
mln of farm products, 50 mln of aluminium, zinc, polyethylene
and other raw materials, and 250 mln of steel, electronics and
shipbuilding parts which would be shifted from other nations.
    Agriculture Ministry officials said South Korea had already
bought 310 mln dlrs worth of U.S. Wheat, raw cotton, corn and
soybeans.
    This meant the country would buy from the United States
nearly all of the 1.27 billion dlrs of its planned imports of
such commodities this year, they said.
    The government will also take steps to reduce tariffs,
accelerate the opening of its markets, voluntarily restrain
exports and cut export financing, the statement said.
    South Korea will also reorganise the country's 3,600 trade
agents to deliver better after-sales services for imported
products and hold a trade show in November for U.S. Products.
 Reuter
