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S. Korea expects slower export growth in June

All Headlines 11:00 June 11, 2018

SEOUL, June 11 (Yonhap) -- South Korea's exports are expected to grow at a slower pace in June compared with a year ago due to shorter working days and high base effect, the trade ministry said Monday.

The Ministry of Trade, Industry and Energy held a meeting with representatives from major industry sectors and trade promotion agencies to discuss ways to take proactive measures to keep the growth momentum.

The ministry expected slower growth in shipbuilding, vehicle and general machinery this month from June 2017, when local shipbuilders won three contracts worth $7.37 billion and there were 1.5 more working days, the ministry said.

Rising protectionism triggered by the United States and volatility in the financial market ahead of the U.S. interest hike are also downside risks for Asia's fourth-largest economy, it noted.

The accumulated exports in the first five months of the year rose 8.2 percent on-year on the back of strong sales of memory chips and petrochemical products, according to the ministry.

Containers ready to be shipped at a port in South Korea (Yonhap)

ejkim@yna.co.kr
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