Anchor: The government has announced that South Korea’s exports last month grew one-point-three percent, reaching the highest August figure on record. The rise came thanks to strong demand for semiconductors and automobiles, even as Washington’s sweeping new tariff scheme sent shipments to the U.S. sharply lower.
Monica Chin has more.
 
Report: South Korea’s outbound shipments totaled 58-point-four billion U.S. dollars in August, up one-point-three percent from a year earlier. 

It marks the highest figure ever recorded for the month of August and the third straight month of growth.

The Ministry of Trade, Industry and Energy said Monday that the strong performance of South Korea’s two major export items, semiconductors and automobiles, had driven the continued shipments. 

Exports of chips, which are in high demand as artificial intelligence continues to expand worldwide, jumped 27-point-one percent to a record 15-point-one billion dollars.

Automobile shipments also rose for a third consecutive month, jumping eight-point-six percent to five-point-four billion dollars, the highest figure for any August on record. 

The record performance in both sectors came despite a 15 percent tariff the United States placed on all South Korean imports at the start of August.

In contrast, exports to the United States fell 12 percent to eight-point-seven billion dollars, weighed down by the new tariffs. 

The decline, however, was largely offset by rising shipments to Southeast Asia and other markets.

Imports slipped four percent to 51-point-nine billion dollars, leaving South Korea with a trade surplus of six-point-five billion dollars in August.

Industry Minister Kim Jung-kwan said the government will announce additional support measures this month to help small businesses minimize the impact of U.S. tariffs and diversify their export destinations.
Monica Chin, KBS World Radio News.