South Korea is the world's sixth-largest exporter and the persistent weak global demand and an escalating dispute with Japan is painting an increasingly gloomy picture for Asia's fourth-largest economy. As a result, South Korea's exports tumbled for an eighth straight month in July with exports shrinking 11% in July on-year as shipments to China fell 16% and semiconductor exports sank just over 28%.

00:49 - We speak to Carlos Casanova, Chief Asia Economist with Coface on the economic situation in South Korea as well as some development in Hong Kong as a result of the protest.