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Gov't to expand trade financing by US$ 30 billion amid H2 trade headwinds Updated: 2022-07-03 17:45:34 KST

South Korea's top economic policymaker said Sunday that the government is going to expand its trade financing by about 30 billion U.S. dollars from what it had originally planned early in the year. Finance Minister Choo Kyung-ho was speaking in the new government's third emergency meeting of economy-related ministers. He also said the government will spare no effort to keep Korea's exports growing. Exports hit an all-time high in the first half of the year, recovering strongly from the impact of the pandemic. But he said it's hard to be optimistic. Growth in the U.S. economy is slowing down and global trade volume is shrinking, so exports could have a rough rest of the year.
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