South Korea's December exports and imports grew more than expected to hit monthly and annual record highs, data showed on Sunday, but the country said overseas sales would slow in 2012 on cooling demand in the euro zone and China.

Increasing relocation abroad by South Korean companies for production of key export goods and the end of a demand boost from the troubles at Japanese companies after the early 2011 earthquake would also weigh on exports in 2012, the government said.

The world's seventh largest exporter now sees overseas shipments growing 6.7 percent for all of 2012 and imports rising 8.7 percent, slowing after growth of 19.6 percent and 23.3 percent, respectively, in 2011.