The Bank of Korea announced on Tuesday that South Korea's export prices surged by 6.2% year-on-year in April, a significant increase from the 2.6% rise seen in March.
Meanwhile, import prices also increased on an annual basis, showing a 2.9% growth in April after falling by 0.7% in the previous month.
According to the data, the Export Volume Index increased by 9.8% on a year-on-year basis, while the Import Volume Index showed a 7.1% annual growth in April.
Similarly, the Export Value Index saw a considerable 13.1% rise annually, and the Import Value Index also advanced by 4.9%.
On a monthly basis, export prices witnessed a sharp 4.1% jump, with import prices also increasing by 2.9%.
Lastly, the terms of trade went up by 5.2% on a year-on-year basis.
