South Korea's Exports Tumble 18% in 10 Days

South Korea's exports tumbled 18.2% in the first 10 days of October from a year earlier, the latest customs data showed Tuesday, raising concerns that the country's outbound shipments will face a decline again.

    The country's exports totaled US$9.47 billion from October 1-10, down from $11.58 billion tallied over the same period last year, according to the Korea Customs Service (KCS).

    Exports of semiconductors fell 5.9% on-year, and those of wireless devices plunged 31.2% over the 10-day period, while shipments of cars and auto parts dived 51.9% and 20.3%, respectively, state news agency (Yonhap) reported.

    The on-going partial strikes at major automakers, including industry leader Hyundai Motor Co., and the worldwide recall of Samsung Electronics Co.'s Galaxy Note 7 played a role in the sharp drop in exports. South Korea's exports rose 2.6% in August for the first time in 20 months, snapping the record-long losing streak that started in January 2015, but they relapsed into negative terrain in September to mark a 5.9% fall.