News Analysis With China’s sharp economic slowdown, South Korea worries that its export industry—including semiconductor, steel, and other major industries that rely heavily on the Chinese market—will suffer a huge setback. Data released by the Korea International Trade Association (KITA) on Jan. 18 reveal that South Korea’s 2021 exports to China amounted to $162.9 billion, accounting for about 25 percent of its total exports. Among them, semiconductor exports to China alone accounted for 39.3 percent of the South’s total semiconductor exports. Over 80 percent of the South’s exports to China are intermediate goods. As the outlook for China’s real estate sector is uncertain, the South’s machinery and steel industries are likely to be impacted. Weaker demand in China may also weigh on South Korea’s exports of home appliances and cosmetics. Petrochemicals, South Korea’s main exports, will also be hit hard. The Yonhap News Agency quoted a source from the Korea …
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