South Korea's exports of cement reached an all-time high last year as local manufacturers turned their eyes overseas amid a deepening domestic property slump, a trade association said Wednesday.
According to the Korea Cement Association (KCA), South Korean cement manufacturers exported a total of 4.49 million tons of cement in 2011, up 62 percent from 2.77 million tons in 2010.
If cement clinker, a first-stage material in manufacturing cement, was included, the total shipments of cement products reached a record 9.97 million tons last year, surpassing the 2010 record of 7.53 million tons, said the KCA.
The long-running slump in the local construction market led the companies to make inroads into overseas markets and diversify their business portfolios, it said.
"Cement makers sought to sell their products even in overseas markets because the local demand for cement was so low," said an official from a local cement manufacturer.
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