South Korea's exports in November hit an all-time high reaching a milestone of 60 billion dollars.
This came on the back of strong exports of chips, cosmetics and computers.
For more, we have in the studio Professor of Economics, Shin Sang-hyup from Kyung Hee University.
Professor Shin, thanks for joining us.
Exports have been increasing for 13 straight months despite the resurgence of COVID-19 around the world.
What were the reasons for the good performance?
Watchers say, at this pace, exports could hit a new record this year.
And the Federation of Korean Industries forecasts that South Korea could possibly join the small group of countries with annual exports of over 700 billion dollars within three years.
What's your forecast?
But still, are there any concerns? Will the Omicron variant, supply bottlenecks, or the U.S.-China rivalry add uncertainties to global trade?
China still is Korea's biggest market.
But a recent report by the Federation of Korean Industries shows South Korea's exports to the U.S. are increasing at a rapid pace while those to China have seen relatively sluggish growth.
Why is that?
Korea Customs Service unveiled this week that small and medium-sized businesses have posted their highest exports at over 105-billion dollars, breaking the 2018 record.
What was the driving force behind that?
Professor Shin Sang-hyup from Kyung Hee University. Thank you for your insights.