S Korea exports fall on tariff woes

SOUTH Korea's exports fell 2.4% year-on-year in the first 20 days of May, partly due to weak sales to the US after Washington imposed and then partly lifted sweeping tariffs, official data showed yesterday.

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Last month, the country's exports showed unexpected strength, lifted by robust semiconductor demand even as US tariffs weighed on trade.

But early signs suggest that rising trade tensions are beginning to affect South Korea's other key industries including automobiles, which have been hit by a 25% levy.

South Korea's exports totalled $32 billion from May 1 to 20, down 2.4% from the same period last year, according to data from the Korea Customs Service.

Shipments to the US, Seoul's key ally, fell 14.6% year-on-year during the period, while exports to China and the EU also declined by 7.2% and 2.7%, respectively.