On Wednesday, data showed that South Korea’s exports had dropped 1.7% year-on-year during the first ten days of October. This represented a total outbound shipment of $11.59 billion in the October 1-10 period, compared to the $11.79 billion seen in the same timeframe last year.
The decrease in exports marks the twelfth consecutive month of decline, mainly due to the global economic slowdown and the stringent monetary policies of the US and other major economies. Despite this, the government is hopeful of a revival in exports as global demand for South Korean semiconductors is showing signs of recovery. To this end, the government has promised to take all necessary measures to support exporters.
Containers are being unloaded from ships at a port in the southeastern city of Busan in this file photo taken Aug. 1, 2023. (Yonhap)
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