August 1, 2018 / 1:27 AM / 4 months ago

South Korea exports to U.S., EU and China gain in July

SEOUL (Reuters) - South Korea’s exports to major trading partners including China, the United States and Japan rose in July from a year earlier, government data showed on Wednesday.

The trade ministry data showed exports in July to China surged 27.3 percent, thanks to increasing memory chip demand, marking 21 straight months of growth.

Shipments to the U.S. and Japan gained 8.8 percent and 17.6 percent, respectively. Automobile and steel exports to the U.S. dropped, hit by regulations, but exports of autoparts and mobile phones rose, the data showed.

The overall exports boom was boosted by newly launched products and growing demand for intermediate goods in overseas markets, the ministry said.

Reporting by Hayoung Choi; Editing by Sam Holmes

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