South Korea Solidifies Recovery View as June Exports Jump 70.9% and Inflation Hits 3.2%
Updated
Updated · asiae.co.kr · Jul 15
South Korea Solidifies Recovery View as June Exports Jump 70.9% and Inflation Hits 3.2%
1 articles · Updated · asiae.co.kr · Jul 15
Summary
South Korea said its recovery trend is now “solidifying,” upgrading a two-month-old recovery assessment even as it kept warning that inflation and weak job quality are straining households.
June exports surged 70.9% year on year on strong semiconductor, computer and shipbuilding demand, while average daily exports rose 59.5% to $4.54 billion and consumer sentiment stayed above 100 at 106.6.
May domestic data were mixed: industrial output fell 0.3% and facility investment slipped 0.1%, but retail sales edged up 0.1% and services output gained 1.3%, supporting the government's view that consumption is improving.
Consumer prices rose 3.2% in June, up from 3.1% in May, led by a 24.7% jump in petroleum prices; employment increased by 63,000 after a May decline, but manufacturing, construction and youth jobs all kept shrinking.
The ministry said Middle East war aftereffects still cloud the outlook through energy-price volatility and global uncertainty, and pledged supply measures plus a second-half 2026 growth strategy.