South Korea’s export development is likely to climb in the fourth quarter led by the semiconductor and petrochemical areas, while automakers and steelmakers may endure, the state-run Korea Trade-Investment Promotion Agency said Thursday. As per the review led by KOTRA on 2,142 trading organization authorities a month ago, South Korea’s leading export index for the October-December period went to 52.1 points, up 0.8 from the past quarter.
A reading over 50 translates into more exports, while numbers that miss the mark concerning this contraction. Petrochemical, Semiconductor and home appliance manufacturers expected increased outbound shipments, while the communication related to wireless sector lost 1.8 points with concerns over rising competition with Chinese rivals in low-end handsets. Steelmakers and Automakers were forecast to see decreased sales related to overseas due to the global supply glut and tougher regulations.