South Korean Exports Grow in March but Miss Forecasts While Chip Exports Boom

• Exports rose 3.1% year-over-year in March to $56.56 billion, missing forecasts • Chip exports grew 35.7% in March, logging the best performance by value in two years • Imports declined 12.3% in March versus a year earlier to $52.28 billion • Samsung and SK Hynix predict improving chip demand for the year ahead • Data indicates economic recovery momentum even as consumer sentiment remains fragile