"Export 1.8% ↑ Forecast for next year"Car exports expected to decline"

South Korea's exports are expected to rise 1.8% from this year to $697 billion next year, coupled with the Trump administration's tariff policy.

The Korea International Trade Association held a press conference today (27th) at the Trade Tower in Gangnam-gu, Seoul, and announced this year's import and export assessment and next year's export prospects.

Korea's exports are expected to hit a record $685 billion this year, up 8.4% from last year on the back of semiconductors and automobiles.

On the other hand, semiconductor exports will grow 2.2% next year from this year, slowing growth, while auto exports will also grow 1.9% due to protectionism from the Trump administration and environmental regulations from the EU.

In addition, exports of petroleum products and petrochemicals are expected to rise only 1.8% next year from this year as exports of petroleum products and petrochemicals decrease due to falling oil prices.