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The news that the US will adjust the pace of interest rate hikes made our financial market laugh for the first time.

The won-dollar exchange rate fell close to 20 won, falling below 1,300 won in four months, and the KOSPI once crossed the 2,500 line.

Expectations that it will get better in the future spread, but the real economy is still difficult.

As exports, the cornerstone of our economy, declined for the second month, the trade balance recorded a deficit for eight months in a row.



This is Reporter Lee Hye-mi.



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Semiconductor exports, which drive our economy, are plummeting.



Compared to a year ago, it decreased by 17% in October, and it decreased by nearly 30% in November.



In particular, exports of memory semiconductors, which are the main focus, were only half of last year.



At the end of the third quarter, as demand declined worldwide, Samsung Electronics' stocks were piled up at 36.7 trillion won.



Exports of petrochemicals, displays, and wireless communications also declined sharply, and last month's exports decreased by 14% from a year ago, continuing the downward trend for two consecutive months.



Exports to China, the largest market, fell by more than 25%.



[Kim Min-woo/Chief Researcher, Korea International Trade Association: As China clearly sets a strategy in the direction of focusing on domestic demand and strengthening its technological independence, the decline in China's import demand may become fixed in the future.]



On the other hand, the surge in energy prices such as crude oil, gas and coal brought imports up 2.7% to reach $60 billion.



The trade balance recorded a deficit for eight months in a row, the first time in 25 years since the financial crisis.



The annual trade deficit has already exceeded $40 billion and has already surpassed a record high.



[Moon Dong-min/Director of Trade and Investment Office, Ministry of Trade, Industry and Energy: Demand for our products is inevitably sluggish due to sluggish global demand, and it is difficult to hope for an easy improvement.] If the



strike by the cargo union is prolonged, exports will also be hit hard. As this is expected, there are also projections that the annual trade deficit could approach $50 billion.



The Korea International Trade Association predicted that next year's trade conditions would be worse than this year due to the resurgence of the corona and the US-China conflict.



(Video coverage: Kim Min-cheol, Video editing: Choi Hye-young, CG: Lee Jong-jeong·Seo Dong-min)



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