South Korea's economic recovery is not happening fast enough. According to a Reuters survey of 13 financial analysts, South Korea's exports showed virtually no growth last month. The economic powerhouse still has a fragile global economy. The studies show that South Korea is being squeezed by a depressed Europe. Growth in South Korea and other emerging markets is slowing.

South Korea is the world's seventh-largest exporter. The survey found that overseas shipments in November increased only 0.2 percent over last year in terms of dollar value. Data from the government showed less than a median gain of 2.8 percent.

The data found that exports to the Association of Southeast Asian Nations (ASEAN) dropped 11.2 percent in November from a year earlier. These are the worst numbers since August 2009. Countries like Indonesia have lost momentum. South Korea's growth slowed in terms of sales to China, the U.S. and the European Union. Exports to Southeast Asia's 10-nation ASEAN bloc had the drop since the 2008-2009 global financial crisis. 18 percent of South Korea's total exports goes to ASEAN. China exports 27 percent to ASEAN. The United States exports 10 percent the Association of Southeast Asian Nations. South Korea is the fourth-largest economy in Asia. South Korea is the world's biggest suppliers of smartphones and ships.

Park Sang-hyun, an economist at HI Investment & Securities in Seoul, explained "Some of the big economies, such as the United States, are recovering, but are not there yet to spur corporate investment for more production and boost global trade much. Global trade will likely remain weak, at least through the first two quarters of next year, because any recovery in the big economies will mostly be led by consumption of small items instead of machinery and investment goods."

Data from World Trade Organization finds that United States imports fell 0.7 percent for the January-September period over a year ago. Imports from European Union countries dropped 4.1 percent. Chinese imported 7.3 percent more over last year.

According to numbers by the Trade ministry, in November, South Korea's imports fell 0.6 percent from the year before. This was weaker than even the worst forecasts from the Reuters survey.

South Korea's central bank forecasts that the country's economic growth will pick up to 2.8 percent this year from 2.0 percent last year and further to 3.8 percent next year.