South Korea's exports plunged by double digits in the first ten days of June.<br />Data by the Korea Customs Service show outbound shipments between June 1st to 10th tumbled 16-point-six percent on-year to a little over 10 billion U.S. dollars.<br />The sharp fall comes on plunging chip exports which plummeted nearly 31 percent.<br />Exports to China, South Korea's number one trading partner, also shrank 27 percent on-year.<br />Already, exports have fallen for six consecutive months since last December amid slowing global growth and the escalating U.S.-China trade spat.<br />In a separate report Tuesday, the Bank of Korea said the correlation between global trade and South Korea's economic growth is not as clear cut.<br />However, it added falling global demand and rising global oil prices could hurt South Korea's terms of trade, driving down its current account balance.<br /><br />
