South Korea sees $30 billion trade surplus in 2010

South Korea is on course to achieve a $30 billion trade surplus by year's end as it is expected to have already reached its earlier forecast of $23 billion by the end of this month, Economy Minister Choi Kyung-hwan said on Saturday. "Our economy has been recovering at a faster pace than expected. It is a recovery led by exports and large business groups," he told a forum in the southern resort island of the country.
In the first half, the world's ninth-largest exporter posted a record trade surplus of $19 billion, easily topping the government's half-year forecast. Demand for semiconductor parts and cars from China and other emerging markets powered exports higher, helping Samsung Electronics, the world's top memory chipmaker and Hyundai Motor to report their biggest-ever net profits during the first half.