Korea’s exports dropped 23.8 percent from a year earlier in the first 10 days of this month mainly due to a reduced number of working days, data showed Monday. Outbound shipments reached $12.83 billion in the May 1-10 period, compared with $16.84 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports went down 15.9 percent on-year to $14.57 billion during the period, resulting in a trade deficit of $1.7 billion. The sharp decline in exports was largely attributed to fewer working days compared with a year before. The number of working days over the cited period came to five this year, sharply down from 6 1/2 days in 2024. The daily average volume of exports went down 1 percent on-year over the cited period, according to the customs office. By destination, exports to the United States plunged 30.4 percent on-year to $1.99 billion, a possible outcome of new U.S. tariffs on automobiles and other key items. Shipments to China, the top trading partner of Korea, also went down 20.1 percent on-year to $2.81 billion. The customs office noted that outbound ship
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