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IN-DEPTH: S. Korea's export-dependent economy faces uncertainty amid growing deficit Updated: 2022-08-11 16:44:41 KST

These are uncertain times for South Korea's highly export-dependent economy.
For a number of key sectors, exports are booming, but still, the country's been logging a trade deficit for months, and could well be in the red for the year.
At the same time, the Korean currency has depreciated dramatically this year, which factors into the trade situation.
To find out what's going on with these crucial aspects of the South Korea economy, we are pleased to welcome Dr. Yang Jun-sok, Professor of Economics at The Catholic University of Korea.

Q1. So far this month, Korea's exports are up more than 23 percent. But with oil prices so high, Korea is running a deficit right now and has been for several months in a row now. Where do we stand on trade?

Q2. According to some analysts, and numbers this week from Micron Technology, the semiconductor industry is now expected to be headed for a big decline in demand. This is Korea's biggest export, so what do you forecast for the chip industry?

Q3. What does the depreciated currency do for Korea in terms of exports? Can the currency support or hurt exports in the current situation?

Q4. There's also a lot of talk about a twin deficit because of government spending in the red. What would be the significance of what I understand would be the first double deficit in 25 years?
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