The total volume of Korea’s external trade grew from 660,000,000 yen in 1910 to more than 2,400,000,000 yen in 1939. With respect to the principal categories of its trade, i. e., foodstuffs, textiles and fibres, minerals, manufactures, and miscellaneous items. Korea was consistently a net importer; of all, except for foodstuffs. Food exports however, were seldom so large that they did more than offset imports of textiles and fibers. From 1910 to 1945, Korea’s external trade was almost wholly absorbed by the Japanese Empire and the prime factor during the entire period was the export of rice to Japan. In 1936, of the value of 41 Korean products showing a net export balance, rice accounted for approximately 64 per cent. Although by 1939 the relative importance of rice exports had declined in favor of minerals and manufactures, of the 55 net export products in that year, rice still made up one-third of the total money value. Until the years immediately preceding the war, fish and marine products ranked second to rice, averaging from 7.5 per cent to 9 per cent of all net export commodities. Other exports individually were of minor significance. Korea’s principal imports historically have reflected its dependence on the outside world for fuels, heavy manufacturers, machinery, automotive equipment, textiles, and fibers, and specialized products. Under current conditions, foreign trade in the ordinary sense of the term is small in amount. During the period August 15, 1945, through June 30, 1947, the value of goods entering or leaving the area was approximately $168,000,000. Of this sum, however, only about $25,000,000 represents the value of goods exchanged between Korea and the mainland of Asia as a result of the operations of private traders. The remaining $143,000,000 represents mainly commodities imported by agencies of the United State Government as a part of the Civilian Supply Program and financed with appropriated funds of the War Department, or as shipments made under the $25,000,000 UNRRA supplies. Exports which enter into this figure are surplus Foreign Liquidation Commission credit, plus small amounts of government-owned minerals and marine products, to the value of some $5,000,000.