South Korea's trade minister projects that the country's exports will bottom out this month and rebound in the first quarter of next year.

Trade, Industry and Energy Minister Sung Yun-mo presented the projections on Monday in a meeting with reporters in Sejong City.

The minister said he expects that exports are likely to be very weak this month in particular -- likely the year's lowest. 

According to the Korea Customs Service, the country's exports plunged 19-point-five percent on-year in the first 20 days of the month.

Sung predicted, however, that exports will slowly recover in November and December before turning around to post growth in the first quarter of next year, citing potential agreements in U.S.-China trade talks and a possible recovery in the global chip market.