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Exports weaker than forecast

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China-bound shipments fall amid trade war with U.S.

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Autos rise, but chips and steel products fall

(Adds details of data)

By Jihoon Lee

SEOUL, March 1 (Reuters) - South Korea's exports barely

grew in February, missing market expectations, with demand in

key markets hurt amid a global trade war triggered by U.S.

President Donald Trump's tariffs.

Outbound shipments from Asia's fourth-largest economy stood

at $52.60 billion, up 1.0% from a year earlier, preliminary

trade data showed on Saturday, weaker than a median 3.8%

increase forecast in a Reuters poll of economists.

The return to growth, after falling in January for the first

time in 16 months with a decline of 10.2%, was largely due to

the timing difference in the Lunar New Year holidays. On a

working day-adjusted basis, exports fell 5.9% in February.

By country, shipments to China, South Korea's biggest export

market, fell 1.4%, while those to the United States rose 1.0%.

Exports to the European Union also dropped 8.1%.

South Korea is the first major exporting economy to report

trade figures each month, providing an early glimpse into the

health of global demand. It was also the first monthly trade

data released since Trump started to roll out various tariffs.

Trump said on Thursday a fresh 10% tariff would be imposed

on imports from China starting next week, in addition to the 10%

tariff levied from last month, which prompted Beijing to take

countermeasures.

This month, U.S. tariffs on imports from Mexico and Canada,

as well as steel and aluminium imports, are set to come into

force. Trump also plans to introduce in April reciprocal tariffs

on every trading partner, and more tariffs likely sooner on

products such as chips and autos.

South Korea's industry minister, Ahn Duk-geun, in talks with

U.S. Commerce Secretary Howard Lutnick this week, requested a

tariff exemption, the ministry said on Saturday.

By product, exports of semiconductors fell 3.0% in February,

snapping 15 months of gains on a decline in memory-chip prices,

but automobiles jumped by a 13-month high of 17.8% on a boost

from sales of hybrid vehicles. Steel products fell 4.4%.

Imports rose 0.2% to $48.30 billion, bringing the country's

monthly trade balance to a surplus of $4.30 billion.

(Reporting by Jihoon Lee; Editing by Muralikumar Anantharaman)