[THE INVESTOR] Korea’s exports growth will be faster than expected earlier this year, the country’s trade minister said on April 27.

“Exports for this year will likely expand 6 to 7 percent to reach between US$525 and US$530 billion,” Trade Minister Joo Hyung-hwan said.

The government earlier expected that the country’s exports would grow 2.9 percent to hit $510 billion in 2017, a turnaround from a 6.4 percent drop in 2016.

The forecast revision came as the economy saw its outbound shipments gain ground for five months in a row since November last year, while the April data is also predicted to log a 20 percent jump.

By Alex Lee and newswires (alexlee@heraldcorp.com)