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South Korea’s Exports Hit Record High in May, Driven by Semiconductor Boom

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Seoul, June 1 (IANS) South Korea’s exports surged 53 per cent from a year earlier to a new monthly high of $87.8 billion in May, driven by the semiconductor supercycle, government data showed on Monday.It marked the third consecutive month the country’s outbound shipments surpassed the $80 billion mark, according to the Ministry of Trade, Industry and Resources.Imports rose 20.8 percent on-year to $60.8 billion, resulting in a trade surplus of $26.95 billion, reports Yonhap news agency.The combi…