/ Yonhap Agency
South Korea expects to continue recording year-on-year growth in exports in November thanks to the performance of the semiconductor and automobile sectors, according to the South Korean Ministry of Industry, promising efforts to maintain the upward momentum.
“The country’s exports grew for five consecutive months since June, and this upward trend is expected to continue in November,” said the Vice Minister of Trade and Investment, Kang Kam-chan.
Until October of this year, Korea’s shipments grew 2.3% compared to the previous year, reaching 579.2 billion dollars, the highest level for the period, led by shipments of semiconductors, automobiles, ships, and bio-health products, according to data compiled by the Ministry of Trade, Industry and Energy.
In the first 20 days of November, exports increased 8.2 percent year-on-year to 38.5 billion dollars, according to government data shown earlier.
“Despite difficult external conditions, such as US tariff measures and the fall in oil prices, Korea’s exports continue to show solid growth, led by our two main export items, which are semiconductors and automobiles,” commented Kang.
“To ensure that our export growth continues until the end of this year, the government will mobilize all available resources, from financing to marketing support,” added the vice minister.
