“Canary” continues to call the police! South Korea’s exports fell in January, chip exports plummeted by 34%

South Korea’s exports fell sharply in January, with the average exports for the first 20 days down 8.8% year-on-year. This follows a 9.6% drop in exports for the month of December. Specifically, chip exports fell by 34%, and exports to China fell by 24.4%. As a canary of the world economy, South Korea has sounded the alarm frequently since the middle of last year. The impact of the Russia-Uzbekistan conflict and supply chain disruptions, as well as a storm of interest rate hikes by major central banks have led to shrinking global demand, leading to continued weakness in South Korean exports. | Related Reading (Wall Street Insights)