S. Korea's exports soar 53.3% in early May

South Korea's exports jumped 53.3 percent on-year to US$31.1 billion in the first 20 days of May from $20 billion a year earlier due to robust demand for chips and automobiles.

Chips, which advanced 26 percent, remained the mainstay export product.

Automobile exports gained 146 percent. But it was the overseas shipments of auto parts that made the highest jump, advancing by more than three times.

The US and China were the two biggest export destinations for South Korean products, representing around 40 percent of the total. US-bound shipments gained 87.3 percent while those to China rose 25.2 percent over the period.

Exports to the EU soared 78.1 percent, and those to Vietnam, South Korea's largest trading partner in Southeast Asia, surged 61 percent.

The country's imports also advanced, moving up 36 percent to $31.4 billion.