Korean Media: South Korea Achieves $9.9 Billion Trade Surplus, Can the Three-Year Trade Deficit with China Be Ended?
On July 8, Korean media outlet News1 published an article stating that due to the expansion of semiconductor exports, South Korea has maintained a trade surplus with China.
Data shows that South Korea's exports to China reached $18.9 billion in May, an increase of 80.9% compared to the same period last year, continuing its growth trend for the seventh consecutive month.
After recording a trade surplus of $347 million in January, the surplus rapidly increased to $1.138 billion in February, $2.552 billion in March, $2.083 billion in April, and reached $3.788 billion in May. The cumulative surplus from January to May totaled $9.908 billion.
In 2023, South Korea’s trade balance with China recorded a deficit for the first time since 1992—marking the first such occurrence in 31 years—and this deficit continued for three consecutive years in 2024 and 2025.
The main driver behind turning the deficit into a surplus is IT exports, centered on semiconductors, including wireless communication devices and computers.
Specifically, semiconductor exports to China reached $9.87 billion in May (a 243.2% increase), accounting for 52% of total exports to China.
South Korea plans to continue increasing exports, focusing on consumer goods beyond semiconductors such as agricultural products, fishery products, and cosmetics, and implementing policies to support the export of these consumer goods.
Original source: toutiao.com/article/1870114223838208/
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