US could become S. Korea’s top trading partner, replacing China

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Article written by Shim Woo-Hyun, Published, May, -, Updated, via on 05 May 2023

The United States is expected to become South Korea’s top trading partner for the first time in 20 years, replacing China, Korea’s current top export destination, government data showed Friday.
According to the Trade Ministry’s latest data, South Korea’s exports to China in April decreased by 26.5 percent on-year to $9.52 billion.
In 2021, South Korea’s exports to the US accounted for only 58 percent of the exports to China.
South Korea’s exports to China have been seeing a downward trend since April last year, posting single-digit decreases in the first few months.
On the other hand, South Korea’s exports to the US have been increasing since April last year.

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