South Korea's deficit in the trade of intellectual property rights narrowed in the second quarter from a year earlier on reduced shortfalls from the trademark and franchise sector, the central bank said Tuesday.

In the April-June period, South Korea posted a trade deficit of

US$160 million in intellectual property rights, compared with $580 million a year earlier, showed data from the Bank of Korea (BOK).

South Korea exported $2.34 billion and imported $2.5 billion in intellectual property rights in the second quarter.

The on-year decline in the overall trade deficit in the second quarter was mainly attributed to reduced deficit from the trademark and franchise sector, which narrowed to $140 million from $260 million, the data said.

South Korea posted a trade surplus of $270 million in copy rights, swinging from a deficit of 70 million, during the same period, it said.

By industry, the manufacturing sector posted a deficit of $270 million in the June quarter, compared with a deficit of $250 million a year earlier.

By country, South Korea posted the largest amount of trade deficit of $820 million with the United States in the second quarter, compared with a deficit of $910 million in the same period of last year.

The country's largest surplus of $460 million in the intellectual property sector was achieved through trade with Vietnam. The surplus was up from $340 million a year earlier.

South Korea posted a trade surplus of $360 million with China in the second quarter, down from $410 million. China is South Korea's largest trading partner. (Yonhap)