(MENAFN) Central bank data showed that export prices in South Korea products dropped for two consecutive months on cheaper oil and firm local currency, Xinhua reported.
Lower export prices indicated that South Korean exporters reaped less profit relative to export volume, triggering weak corporate profitability and boosting worries about profitability of exporters.
The export price fall came as cheaper oil pulled down prices for oil-related products. The South Korean currency's appreciation to the US dollar reduced export earnings converted into the domestic currency.
Meanwhile, Import prices tumbled 7.3 percent in January compared to the previous month, after declining by 5.1 percent in December, due to falling global crude prices.
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