President Yoon Suk-yeol tours a distribution center at Busan New Port in Changwon, about 300 kilometers southeast of Seoul, Aug. 31. Yonhap

President Yoon Suk-yeol vowed Wednesday to increase government support for the country's export industries amid a widening trade deficit caused by falling semiconductor prices and other factors.

Yoon made the promise as he presided over an emergency meeting on the economy and public livelihood matters at a container terminal at Busan New Port in Changwon, about 300 kilometers southeast of Seoul.

"We've recently seen record high volumes in exports, but our export forecasts for the second half of the year are not that bright because of a fall in semiconductor prices," he said during the meeting attended by government and business officials, including from the banking and construction sectors.

"First of all, the government will do its best to immediately resolve these difficulties of export businesses," he said, announcing plans to increase trade financing for local exporters to a record 350 trillion won ($261 billion).

"We will also dedicate ourselves to resolving difficulties on the export front lines related to logistics, marketing and overseas certifications," he added.