Exports log 6.8% year-on-year gain during first 20 days of Dececember

Korea's exports grew 6.8 percent from a year earlier in the first 20 days of this month, mainly on the back of strong global demand for semiconductors, data showed Monday. Outbound shipments reached $43 billion in the Dec. 1-20 period, compared with $40 billion tallied over the same period last year, according to the data from the Korea Customs Service. This marks an all-time high for the period. The previous record was set last year. Such an increase comes despite U.S. tariff measures, thanks to strong demand for semiconductors, according to the agency. Chip exports jumped 41.8 percent year-on-year to $11.65 billion, accounting for 27.1 percent of the country's total exports during the cited period. In contrast, shipments of cars dropped 12.7 percent to $3.25 billion, and petroleum exports contracted 1 percent to $2.63 billion. By destination, exports to China rose 6.5 percent to $8.58 billion, while exports to the United States shrank 1.7 percent to $7.87 billion, the data showed. Exports to the European Union fell 14 percent on-year to $3.71 billion. Imports inched up 0.7 percent on-year