SEJONG (South Korea), August 22 — South Korea’s exports could begin a full-fledged recovery in September despite a trade deficit expected for this month, the finance minister said today.

The country’s exports fell for the 10th consecutive month in July due mainly to weak demand for semiconductors, but the country reported a trade surplus for the second straight month, reported Yonhap.

"Although there could be a slight deficit in August, it will again return to a surplus in September, with exports starting a full-fledged recovery,” Finance Minister Choo Kyung-ho said during a parliamentary session.

In terms of economic growth, Choo said Asia’s No. 4 economy is anticipated to expand "two times faster” on-year in the second half compared with the January-June period.

The finance minister also noted that it is too early to conclude that South Korea will be severely impacted by China’s recent property crisis."

The direct impact (of the crisis) is limited, as the country’s exposure to China regarding the real estate issue is minimal,” he added.

Nevertheless, Choo said the government will continue to closely monitor related situations, considering China takes up around 20 per cent of the global economy. — Bernama-Yonhap