South Korea’s exports surpassed $100 billion in a month for the first time, driven by soaring semiconductor demand amid the global artificial intelligence boom.
According to the Ministry of Trade, Industry and Resources, exports rose 70.9 per cent year-on-year to a record $102.25 billion, making South Korea the fourth country, after Germany, China, and the United States, to exceed $100 billion in monthly exports.
Semiconductors led the surge, with exports nearly tripling to $44.82 billion, 199.5 per cent growth from a year earlier, marking the first time the country’s monthly semiconductor exports crossed the $40 billion milestone. Due to rising memory chip prices and strong demand from the AI infrastructure sector.
Computer exports of $5.41 billion projected 308.8 percent growth, fuelled by demand for solid-state drives, while wireless communication device exports climbed 51.9 percent to $1.55 billion, led by smartphone shipments.
Overall, 18 of South Korea’s 20 major export categories recorded year-on-year growth. Due to rising demands in China and the United States, it recorded $20 billion worth of imports during the month.
South Korea recorded a trade surplus of $36.15 billion in June, crossing the $30 billion mark. For the first half of the year, exports reached a record $496.7 billion, with a trade surplus of $138.3 billion.
If the current momentum continues through the second half of the year, South Korea’s annual exports are expected to surpass $1 trillion for the first time, proving the country’s pivotal role in the global semiconductor and AI supply chain.
