Anchor: Exports remain the driving force of the Korean economy with global demand for IT products expected to continue for the time being. Domestic consumption is also faring better than before, according to the central bank's figures.
Oh Soo-young breaks down the numbers.
 
Report: South Korea's export boom this year is showing little sign of losing steam, thanks to continued demand for key IT components and a pickup in the global economy.
 
The Trade Ministry said on Friday that exports totaled 47-point-one billion dollars in August, up around 17 percent from the previous year.
 
Semiconductor shipments alone accounted for eight-point-seven billion dollars, or 57 percent on year, owing to a hike in the unit prices for DRAM chips and soaring demand from smartphone manufacturers.
 
Imports came to 40 billion dollars, putting the trade balance for August at seven billion dollars -- the 67th consecutive month that the country has recorded a surplus.
 
The ministry said the export rally will likely continue for the time being as it expects steady growth in global appetite for key IT products as well as a recovery in the U.S. and Chinese markets.
 
The local economy also appears to be on an upswing with consumption figures showing the first glimpse of recovery.
 
The Bank of Korea said on Friday that the country's GDP grew zero-point-six percent on-quarter in the April to June period.
 
While growth has slowed compared to the first quarter of this year, the central bank said this is largely due to a base effect.
 
Although manufacturing decreased by point-three percent and construction by one-point-three percent, domestic consumption grew one percent due to seasonal demand for household electronics and handsets.
 
Consumer prices rose two-point-six percent on-year in August, the largest gain in more than five years as fresh produce prices drove up overall costs. Core inflation, however, which excludes volatile food and energy costs, maintained a steady growth rate of one-point-eight percent.
Oh Soo-young, KBS World Radio News.