S. Korean gov't sees solid economic recovery despite external uncertainties

SEOUL, Sept. 11 (Xinhua) -- The South Korean government saw its solid economic recovery due to strong exports and improved consumption despite lingering external uncertainties, a finance ministry report said Friday.

A woman enjoys the downtown scenery in Seoul, South Korea, Sept. 6, 2026. (Photo: Xinhua)

The Ministry of Finance and Economy said in its monthly report, called Green Book, that the Asian economy recently showed a robust trend of recovery, powered by a sharp increase in exports and improving domestic demand.

The ministry, however, cautioned that uncertainties related to conflicts in the Middle East and U.S. tariffs have grown, though the global economy continued its moderate growth.

The ministry highlighted ongoing challenges for ordinary people, pointing out that inflationary pressures from high oil prices and difficult employment conditions for vulnerable groups continued to weigh on livelihoods.

Exports soared 68.7 percent in August from a year earlier, driven by strong demand for semiconductors, computers and cosmetics.

The composite consumer sentiment index (CCSI) slipped 2.3 points from a month earlier to 104.5 in August, but it stayed above 100, indicating that optimists outnumbered pessimists.

Consumer prices gained 3.1 percent in August on a yearly basis, faster than an increase of 2.8 percent in July.

The number of jobs climbed 184,000 in August from a year ago after rising 108,000 in the previous month.