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S. Korea faces uncertainties over trade disputes, chips: ministry

All News 11:20 June 14, 2019

SEJONG, June 14 (Yonhap) -- South Korea faces growing uncertainties over a slowing global economy, deepening trade disputes between the United States and China, and the sluggish semiconductor market, the finance ministry said Friday.

The South Korean economy continues to show a sluggish trend in exports and investment, though its overall industrial output slightly rose, the Ministry of Economy and Finance said in its monthly economic assessment report.

The report, called the "Green Book," is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment, which provide clues as to how Asia's fourth-largest economy has been faring in recent months.

The country's exports fell 9.4 percent on-year to US$45.9 billion in May due mainly to a fall in chip prices and the weak Chinese economy. It marked the six consecutive month that outbound shipments declined.

What is noteworthy is that in May, exports of semiconductors declined 30.5 percent from a year earlier.

Semiconductors are a key export, as South Korea is home to Samsung Electronics Co., the world's largest memory chip maker, and its smaller rival, SK hynix Inc.

The government will brace for risks and explore a set of measures to boost exports and investment at a time of growing external uncertainties, the ministry said.

The Green Book (Yonhap)


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