KOREA'S EXPORTS CONTINUED TO GROW STRONGLY IN AUGUST

ON 1 SEPTEMBER, SOUTH KOREAN EXPORTS CONTINUED TO GROW STRONGLY, WITH THE DEMAND FOR BOOSTING CHIPS FROM AI AND THE ECONOMY AS A WHOLE, SUPPORTING THE BANK OF KOREA TO MAINTAIN ITS HAWK STANCE AFTER TWO CONSECUTIVE INTEREST HIKES. DATA PUBLISHED BY THE KOREAN CUSTOMS ON TUESDAY SHOW THAT, AFTER ADJUSTING FOR WORK-DAYS DIFFERENTIALS, EXPORTS GREW BY 72.5 PER CENT IN AUGUST, IMPORTS BY 22.5 PER CENT AND THE TRADE SURPLUS REACHED $34.7 BILLION. UNADJUSTED EXPORTS GREW BY 68.7 PER CENT, AND THE JULY INCREASE WAS REVISED TO 63 PER CENT. THE SEMICONDUCTOR REMAINS THE MAIN DRIVER OF SOUTH KOREA ' S EXPORT GROWTH. THE DATA SHOW THAT, DESPITE RISING ENERGY PRICES AND GEOPOLITICAL TENSIONS PLACING PRESSURE ON OTHER INDUSTRIES, EXTERNAL DEMAND REMAINS RESILIENT, SUPPORTING THE SECOND CONSECUTIVE INCREASE OF 25 BASIS POINTS BY THE CENTRAL BANK OF KOREA LAST WEEK。