"South Korea's Trade Dynamics Shift Amidst Chip Slump and Export Market Changes"
TL;DR Summary
South Korea experienced its first trade deficit with China in 31 years, with a shortfall of $18 billion in 2023. The country's exports to China dropped by 20% to $124.8 billion, while imports from China decreased by 8% to $142.8 billion. Despite the deficit with China, South Korea's overall trade deficit narrowed as its exports to the U.S. increased.
- South Korea records its first trade deficit with China in 31 years Nikkei Asia
- US Overtakes China as South Korea's Top Export Market Bloomberg
- S. Korea's exports down 7.4 pct in 2023 amid weak chip demand The Korea Herald
- South Korea's Economy on the Rise with Surge in Exports BNN Breaking
- Chip recovery seen as key for trade surplus in 2024 koreatimes
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