South Korea is in something of a sweet spot for the COVID-19 era. Neighboring China, its biggest trading partner, is driving the global rebound and the world increasingly wants the technology that Seoul sells.
Gross domestic product figures are encouraging. The economy expanded 1.9% in the third quarter from the prior three months, the government reported Tuesday, exceeding forecasts and the first positive reading this year. Growth retreated 1.3% on an annual basis, a milder decline than projected. The numbers are the second upbeat installment from North Asia in little more than a week. Recent figures indicate China is likely to be the only commercial power to show any growth this year. South Korea may come close, as could Taiwan.
South Korea's bounce is built on what leaves the country. Exports account for about 40% of the economy. Memory chips and electronics have benefited from a shift to work- and study-from-home during the pandemic. However, other things shipped by South Korea, like chemicals and metal products, haven't done so well.
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