Korean Exports Surge

[Anchor Lead]

Korean exports surged 24 percent year-on-year to their second highest level thus far thanks in part to a sharp increase recorded last month. National exports have been on the rise for six consecutive months now.

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This facility was designed for extracting natural gas from the ocean floor. Samsung Heavy Industries completed the construction of the structure last month and it was sent to a gas development site in Australia. The deal was worth more than 3.45 billion dollars. Korea's shipbuilding industry ended a long period of stagnation last month by exporting 24 ships, including two high value-added vessels such as off-shore plants, to record more than seven billion dollars in exports. That's the largest export amount for ships yet. Exports of semiconductors, which are thriving recently on the releases of new smartphones, recorded 7.14 billion dollars. The nation's overall exports surged more than 24 percent year-on-year in the month of April, recording 51 billion dollars, the second-largest amount yet. Korea's exports have been on the rise for six consecutive months and posted double-digit growth over the past four months, prompting authorities to upgrade its export growth outlook.

[Soundbite] Chae Hee-bong(Ministry of Trade, Industry & Energy) : "We expect the nation's exports to continue to expand in May as well, as the results of export restructuring have begun to produce effects."

Exports of Korean products recorded an all-time high to the European Union, while exports to China continued their increase for the sixth straight month.