Moon defends economic record, citing strong recovery

SEOUL, April 1 (Yonhap) -- President Moon Jae-in rebutted criticism of his economic performance Friday, citing South Korea's robust recovery largely driven by exports, which hit an all-time high in March.

The March export total is "all the more meaningful because it was achieved amid difficulties in external economic conditions, such as the spread of omicron, supply chain disruptions and the Ukraine crisis," Moon said in a message posted on social media.

Moon's positive rhetoric on the economy comes as opposition politicians criticized the Moon government's economic policies.

"Is it true that our economy has collapsed?" Moon said. "If our economy collapses, companies that are making new history in exports will feel disappointed."

South Korea's exports jumped 18.2 percent to US$63.4 billion in March from a year earlier on the back of brisk demand for chips and petroleum products, according to government data.

But high global energy prices also pushed the country's imports to a record high last month, leading the country to post a trade deficit, the data showed.

kdh@yna.co.kr
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