Survey shows strong semiconductor demand; South Korea’s exports are expected to achieve even stronger growth in June

Glonghui, June 26 — Thanks to strong demand for semiconductors, South Korea’s exports in June are expected to achieve even stronger growth, with the monthly trade surplus likely to surpass $30 billion for the first time. According to the median forecast from a Wall Street Journal survey of nine economists, South Korea’s exports in June are expected to increase by 57.3% year-on-year, higher than the revised 53.4% in May. Imports in June are expected to rise by 23.5% year-on-year, boosting the monthly trade surplus to $32 billion. Meritz Securities chief economist Seunghoon Stephen Lee said that chips and computers are seen as the main drivers behind export growth, and export growth is expected to remain above 50% in the second half of the year.