Korea exports break records
Korean exports reached a record level in November, helped particularly by surging demand for mobile phones, the Korea Herald reported Monday.
Exports increased 17.5 percent from the same month in 2006 to a record $36 billion, the Commerce Ministry said Sunday, far higher than the 12.6 percent analysts had forecast.
“South Korea has succeeded in diversifying its export market, and is less affected by the slowdown in demand from the United States,” Lim Ji-won, an economist at JPMorgan Chase & Co. in Seoul, told the newspaper.
China accounted for 22.1 percent of South Korea's total exports so far this year, with 15.1 percent going to the European Union and 12.5 percent to the United States.