South Korea’s trade boom entered its 18th month with a 5% growth in combined imports and exports. That was nonetheless the slowest during that period and included a 2% drop in exports. The slowdown in part reflected a slide in exports to the EU and U.S. that couldn’t be offset by a semiconductor-led 23% surge in shipments to China. The trade surplus vs. the U.S. contracted once more as imports from America climbed 7%, resulting in the lowest 12 month trailing deficit since July 2012. That should help ensure the passage of KORUS in the U.S. There will be a further decline in South Korean ...