S.Korea Jan exports 18.0 yy vs 17.8 forecast
Semiconductor exports lead, calendar effects boost
Chip sales jump most in 6 years, China sales snap 19mth slump

SEOUL, Feb 1 Reuters South Korea39;s exports rose for a fourth month in January, as a rebound in sales to China and the biggest surge in chip shipments in six years provided a boost to the tradereliant economy at the start of 2024.

The positive impulse from Thursday39;s trade data was reflected in a survey on the nation39;s factory activity, which showed an expansion for the first time in over 112 years last month on improving demand in key export markets.

Exports shipped by Asia39;s fourthlargest economy rose 18.0 yearonyear to 54.69 billion in January, compared with a rise of 5.0 in December and a gain of 17.8 tipped in a Reuters poll of economists.

It was the biggest percentage increase since May 2022, boosted by a favourable comparison from a year ago when there were less working days due to the timing of the Lunar New Year holidays.

Overall, South Korean exports are rebounding as expected, although there also are base effects from the first quarter of last year when semiconductor exports were the worst, said Park Sungwoo, an economist at DB Financial Investment.

It seems the worst is over for Chinabound exports as well, with the outlook on the Chinese economy becoming brighter.

South Korea39;s exports had swung to growth since October, after a yearlong downturn, and are expected to improve further…