South Korea's Ministry of Trade, Industry and Energy says it's expecting a drop in the country’s exports in September from last year due to the Chuseok holiday. 

Exports hit a record high last September at 55-point-12 billion U.S. dollars, but the ministry projects an on-year contraction since this September had four fewer working days due to the Chuseok holiday, widely known as Korea's thanksgiving.

However, the average daily exports this month are still expected to beat the all-time record and surpass the two-point-49 billion dollars set in October of last year. 

The ministry says that, despite the on-year decline in September, the upward trend this year will likely continue. South Korea's exports reached 399-point-eight billion dollars between January and August, up six-point-six percent from the same period in 2017. 

If the current trend holds up, South Korea's annual exports could surpass 600 billion dollars for the first time ever this year.