Supply Chain Research

South Korean trade expanded for a 19th straight month in May after a 19% rise on a year earlier. That included a rise in export growth to 13% from a 2% decline in April, which was well ahead of economists’ expectations of 7%. An expansion of semiconductor exports was the major driver. Trade with the U.S. has returned to prior patterns, following the close of KORUS negotiations, with exports rising 18% despite a decline in automotive exports. Yet, with imports from the U.S. up by just 2% the trade surplus vs. America climbed to 2.2x the prior year’s level. If continued that could lead the...