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S. Korea vows to maintain exports recovery in Q4: finance minister

All News 17:24 October 12, 2020

SEJONG, Oct. 12 (Yonhap) -- South Korea's finance minister said Monday the government will spare no efforts to maintain momentum of recovery in exports in the fourth quarter of this year.

Finance Minister Hong Nam-ki made the remarks at a meeting with senior ministry officials earlier in the day, the Ministry of Economy and Finance said in a statement.

On Monday, South Korea eased social distancing rules as daily infections of the new coronavirus appeared to come under control, following a resurgence in mid-August.

Hong said the government will adjust economic measures to boost local consumption as social distancing rules softened.

Earlier in the day, South Korea reported a 28.8 percent drop in exports for the first 10 days of October, mainly due to fewer working days.

Per-day exports, however, rose 2.8 percent in the 10-day period and exports of semiconductors, the nation's key export item, gained 11.2 percent.

Last month, South Korea saw exports rebound after seven months of decline, helped by increased shipments of chips and automobiles as major trade partners gradually resumed their business activities amid the pandemic.

Finance Minister Hong Nam-ki takes an oath during a parliamentary inspection of his ministry at the government complex in Sejong, central South Korea, on Oct. 7, 2020. (Yonhap)

kdh@yna.co.kr
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