* Date : 2020-01-02
The Point marks the New Year by taking a deep dive into the outlook for South Korean exports and some of the variables from in and out of the country that could affect the nation’s economy in 2020.
Last year, South Korean exports were hampered by the U.S.-China trade war, Japan’s export curbs, sluggish growth in the semiconductor industry. It was the first year in a decade for the nation to drop a double-digit percentage in export loss.
However, the outlook for the first quarter of the new year is rosy, as it has been forecast that exports in some sectors, including ship making, semiconductor, household goods, would make a turnaround and start improving.
But several variables could influence the nation’s exports. The U.S. and China could get into a roadblock as they head into talks to reach phase two deal of the trade war. Also, Seoul is expected to see bumps on its way, resolving issues with Tokyo on export curbs and whitelist. It remains to be seen whether South Korea could come up with additional measures to respond to possible variables.