Yoon Seok-yeol's regime's 'US-centered response to China' is 'frustrated' as the trade deficit widens

The Yun Seok-Yeol Regime is frustrated by a growing trade deficit in the US-centered response to China's strategy to prioritize a strong dollar.
The Korea Chamber of Commerce and Industry (KCCI) announced on the 9th that “increased imports of intermediate goods, reorganization of supply chains, and reduction of tariffs under the Regional Comprehensive Economic Partnership (RCEP)” were the reasons for the expansion of the trade deficit with China for the third consecutive month.
South Korea's trade deficit with China is already $667 million by the 20th of this month.
The trade deficit with China is $1.09 billion in May, $1.21 billion in June, $570 million in July, and the first annual deficit is expected this year.
President Yoon Seok-yeol intervened verbally on the 23rd, but the exchange rate soared to the level of 2009 during the financial crisis, and the won-dollar exchange rate rose by 5.7 won from the previous day, breaking a new record at 1345.5 won.
The exchange rate was greatly affected by the weak euro and Korea became a victim of the strong US dollar system favored by the Yun regime.
Until the first half of this year, the debt of the chaebol, which expanded investment in the United States under the Yun regime, was due to Hyundai Motor (162.5 trillion won), Samsung Electronics (120.1 trillion won), SK (115.7 trillion won), HD Hyundai (45.5 trillion won), etc. got bigger
At the time of its inception, the Yun regime discriminated against “the United States is an ally, China is a partner,” and adopted “health, culture, and economic cooperation with China as the central axis of Korea-US relations.”
Kim Seong-han, head of the Security Office, said in a special interview with the Voice of the United States (VOA) presidential election, "The ROK-U.S. alliance is the central axis of South Korea's foreign policy and security, and we will unravel the ROK-China relationship on the premise." We will treat Korea fairly commensurately

In Korea's trade, China accounts for 25.3% of exports (as of last year).
Among the 5448 items traded with China in the first half of this year, 3835 items (70.4%) were in deficit.
The amount of imports of 'other fine chemical raw materials' from batteries, a strategic export item to the United States under the Yoon Seok-yeol regime, to China doubled from $3.83 billion in the first half of last year to $7.25 billion in the first half of this year.
Imports of 'other storage batteries', an intermediate material for batteries, surged from $1.11 billion in the first half of last year to $2.18 billion in the first half of this year.
By the first half of 2022, imports of LCD items from China, which were pushed back by shifting their export focus to semiconductors such as Samsung, tripled from $450 million in the previous year to $ 1.29 billion.
“The United States is an ally of South Korea, but China is a cooperative partnership,” Kim said to VOA. Based on the premise, we will aim for a relationship in which the ROK-U.S. and South Korea-China relations can be compatible and create synergy in the context of issues that need to be cooperated, such as vaccines, public health, climate change, various cultural and economic issues, etc. .
Prior to the RCEP, which took effect on February 1, imports of 'lithium oxide' and 'lithium hydroxide', which are battery materials, among concession items, increased from China, and the import amount in the first half of this year (US$1.17 billion) was more than double the total import value (US$560 million) last year. The deficit in China is expected to quadruple this year.
Korea's trade deficit increased by 3.9% in exports and 22.1% in imports from August 1 to 20 (compared to the same period last year).
Semiconductors, the main export, fell 7.5%.
Imports increased by crude oil (54.1%), semiconductors (24.1%), gas (80.4%), coal (143.4%) and passenger cars (44.3%).
Exports increased by petroleum products (109.3%), passenger cars (22.0%), ships (15.4%), auto parts (8.9%) and home appliances (15.0%).
Exports increased by the United States (0.8%), the European Union (EU · 19.8%), Vietnam (2.2%) and Singapore (115.7%), and the countries where exports decreased were China (-11.2%), Japan (-6.3%) and Hong Kong (-45.0%).
Imports increased by China (14.2%), the United States (18.8%), Saudi Arabia (99.2%), and the like, and the countries where imports decreased were Russia (-39.2%), EU (-2.0%), Japan (-1.7%), and so on.
Trade deficit in January (-4.95 billion dollars) April (-2.476 billion dollars) May (1.6 billion dollars) June (-2.487 billion dollars) July (-4.8 billion dollars) 5 million dollars) to August for five consecutive months.
The Ministry of Strategy and Finance said on the 22nd that it was due to the rise in international energy prices and that the current account balance, including the trade balance, was maintaining a relatively solid surplus.

In an interview with the Washington Post before taking office on April 14, President Yoon said, "Based on the Korea-US relationship, we will expand the scope of diplomacy in the European Union and throughout Asia." I am confident that the relationship between Korea and Japan will improve once I take office,” he said.