Export prices in South Korea rose at an annual rate of 7.5% in May, data by the Bank of Korea showed, after a revised up 6.5% increase in April.
It has been the most significant YoY surge in export prices since November 2022.
In May, prices went up at a faster rate for manufacturing products (7.6% YoY compared to 6.6% YoY in April).
In the meantime, prices dropped at a softer rate for agricultural, forestry and marine products (-5.9% YoY compared to -6.7% YoY in April).
In monthly terms, export prices went down 0.6% in May, after a 4.1% surge in April.
Import prices in South Korea rose 4.6% year-on-year in May, following a 2.9% rise in April, the data showed.
It has been the sharpest increase in import costs since December 2022.
The South Korean Won was 0.59% weaker on the day against the US Dollar, with the USD/KRW currency pair last trading at 1,383.04.
The exotic Forex pair was holding near a two-week high of 1,383.87.
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