South Korea Imports Rise Less than Expected

South Korea’s imports rose 0.7% year-on-year to USD 54.21 billion in July 2025, easing from a 3.3% gain in the previous month and falling short of market expectations for a 2% increase, flash data showed.

The latest figure came ahead of a key U.S.

tariff deal and despite Seoul’s KRW 30.5 trillion supplementary budget aimed at supporting an economy facing weak consumption and trade-related pressures.

Just days before the August 1 deadline set by Washington, South Korea struck a trade agreement with the U.S., lowering the threatened reciprocal tariff to 15%.

In return, the U.S.

will reduce tariffs on South Korean automobiles and parts from 25% to 15%.

Seoul also pledged to boost imports of U.S.

LNG and other energy products and to help revitalize the U.S.

shipbuilding industry.

The move aligns with South Korea’s energy strategy, as the country relies on imports for over 90% of its energy needs.

The deal is seen as helping secure energy supplies while reducing trade friction.