South Korea exports rise on record chip and petrochemicals shipments

Auto shipments turned around to a 0.5 per cent increase as Korean automakers launched new sports utility vehicles IN US

South Korea’s export growth accelerated in August at the fastest pace in three months, easing concerns that the trade fight between China and the US will sap momentum in Asia’s fourth-largest economy.

Exports rose 8.7 per cent from a year earlier, the trade ministry said in a statement on Saturday. That compared with a 10.2 per cent gain forecast by economists in a Bloomberg survey. Imports jumped 9.2 per cent, leaving a trade surplus of $6.9 billion, according to the statement.

Exports were mainly led by increased shipments of semiconductors and petroleum products, according to the trade ministry. Semiconductors, which dominate South