South Korea’s international trade activity slumped 12.4% year over year in June, including a 13.5% drop in exports that represented the worst performance since Jan. 2016. With exports to China down 24.5% and those to ASEAN by 8.5% the data provides further evidence of a global export slowdown. The main feature was a 25.5% slide in semiconductor exports – largely due to lower memory chip (DRAM) prices. There was a widespread drop in technology exports, including a 27.5% drop in mobile phone exports. The latter followed a 9.0% drop in shipments by Samsung Electronics in 1Q 2019 according t...