Exports fall in May due to decline in shipments to U.S., overseas automobile sales

Finding for the first three weeks of May show a slump in Korean shipments overseas.

According to the Korea Customs Service, exports from May 1st to the 20th were down 2-point-4 percent on-year.

By destination, shipments to the U.S. market slipped in light of tariff-related repercussions amid a sharp decline in auto exports.

Korean shipments to the EU market also lost ground.

This latest drop in exports comes after three straight months of growth through April.