South Korea's Minister of Trade, Industry, and Energy, Jung In-kyo, announced that the country's exports are expected to increase for the 15th consecutive month in December, despite facing external challenges. This statement was made during a meeting with government officials, where it was also noted that South Korea is projected to achieve a trade surplus for 19 consecutive months.
Jung highlighted growing uncertainties about exports due to domestic political instability and the upcoming change in the U.S. administration. The government aims to mitigate negative impacts and explore new opportunities by maintaining close communication with private sectors to support the economy and businesses.
From January to November, South Korea saw export growth to seven out of its nine major trading partners. Exports to China, its largest trading partner, rose by 6.4%, while exports to the U.S. increased by 11%. Early December data showed a 6.8% year-on-year rise in exports, driven by semiconductor demand.
The full monthly trade report is expected next Wednesday.
