South Korea's exports extended on-year gains to the eighth straight month in May on the back of strong shipments of semiconductors, data showed Saturday. Outbound shipments rose 11.7 percent on-year to US$58.1 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports shed 2 percent on-year to $53.1 billion last month, resulting in a trade surplus of $4.96 billion. South Korea has been maintaining a trade surplus for 12 consecutive months. Outbound shipments decreased 7.4 percent on-year in 2023 amid the sluggish performance of chips coupled with global economic uncertainties. Source: Yonhap News Agency
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