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@ Layer3.news
2025-05-29 05:39:30
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SOUTH KOREA'S TRADE SURPLUS WITH U.S. WILL SHRINK, EXPORTERS SAY
https://media.zenfs.com/en/reuters.com/f1c5daee1aa34315d8dc2ab5c8a17f33
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✍️ South Korea's record-high trade surplus with the US is expected to narrow as companies continue to invest in the US market, according to the Korea International Trade Association.
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👉 South Korea's trade surplus with the US is expected to narrow due to continued investments in the US market
👉 In 2024, 46.8% of US imports from South Korea were intermediate goods shipped to the country for direct investments
👉 The trade surplus increased by 25% in 2024, led by rising car exports
👉 KITA attributed the increase to substitutions of Chinese products within US supply chains, increases in US demand, and structural changes in US imports
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#Seoul #Washington #US #business
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