South Korea's Economy Faces 'Perfect Storm' Amid Japan Trade Dispute And Plunging Exports
Friday, 23 August 2019 As the foreign ministers of China, Japan and South Korea gathered for trilateral talks in Beijing on Wednesday to improve relations, a stark reminder came of the perilous situation South Korea’s economy is in, the South China Morning Post reported. Exports for the first 20 days of August fell 13 percent from a year earlier, signaling a ninth successive monthly decline. Within the headline figure, two numbers illustrate the “perfect storm” facing the country: sales of semiconductors – one of its most valuable exports – fell 30 percent, while exports to China – its largest trading partner – fell 20 percent. Both an exporting and electronics powerhouse, South Korea’s economy is...
South Korea says it will scrap an intelligence-sharing pact with Japan, drawing a swift protest from Tokyo and deepening a decades-old dispute over history that has hit trade and undercut security cooperation over North Korea. Grace Lee reports.
South Korea's prime minister said on Friday said restoring a bilateral currency swap facility with Japan would be desirable as it would strengthen trade and... Reuters India Also reported by •Seattle Times •RTTNews