South Korea’s export prices fell 4.5% year-on-year in June 2025, deepening from a revised 2.6% drop in May. The decline was largely driven by a sharp 4.5% fall in manufactured goods prices, which had previously risen 2.6% the month before. Growth in agricultural, forestry, and marine product prices also slowed, easing to 3.7% from 6.7%. On a monthly basis, export prices declined 1.1% after a 3.5% drop in May, with the Korean won’s appreciation playing a key role. The continued weakness in export prices reflects growing external challenges, including newly imposed US tariffs of up to 25% announced by President Trump, set to take effect on August 1. These factors are adding pressure to South Korea’s trade environment in the months ahead.