S. Korea`s exports up 28.8 pct on vessel, semiconductor gains

By Lee Youkyung
SEOUL, Nov. 21 (Yonhap) -- South Korea's exports increased sharply on-year during
the first 20 days of November thanks to increases in shipments of vessels and
semiconductors overseas, a preview of a government data showed Saturday.
According to data from the Korea Customs Service, exports rose 28.8 percent in
the first 20 days of November from a year earlier, while imports were down 2.1
percent in the same period.
Exports stood at US$22.32 billion as of Nov. 21, while imports reached $21.36
billion, logging a surplus of $960 million, according to the preliminary data.
Exports rose the most for vessel and memory chip manufacturers, up 53.4 percent
and 33.3 percent from a year earlier, the data showed. But exports of mobile
handsets and automobiles shrank 0.9 percent and 20.1 percent respectively during
the period.
South Korea is home to the world's second- and third-largest handset makers,
Samsung Electronics and LG Electronics. It is also home to Hyundai-Kia Automotive
Group, the second-largest automaker in Asia after Toyota.
Imports of raw materials decreased 19.5 percent on-year, but imports of capital
goods and consumer goods climbed 30.1 percent and 3 percent each during the same
period.
Accumulated exports between January and Nov. 20 reached $316.4 billion, down 17.5
percent from a year ago. Accumulated imports were at $281.6 billion, 29.9 percent
lower from a year earlier, with a $34.7 billion trade surplus accumulated so far.
ylee@yna.co.kr
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