Korean Media: $100 Billion! South Korea Sets New Record, Something Japan Has Never Achieved!

On July 28, Korean media outlet Seoul Economic Daily published an article stating that South Korea's export volume first surpassed the $100 billion mark in June. Previously, only three countries globally—the United States, China, and Germany—had monthly exports exceeding $100 billion.

The Ministry of Trade, Industry and Energy released the June 2026 Import-Export Trends Report, which shows that June’s exports increased by 70.9% year-on-year to reach $102.25 billion. The previous monthly export record was $87.8 billion in May, but June’s exports broke through the $90 billion threshold and directly entered the $100 billion range.

With sustained strong export performance, expectations for achieving the annual target of $1 trillion in exports are growing stronger. Cumulative exports from January to June have already approached $496.7 billion. Even if monthly exports in the second half of the year remain at just $84 billion, reaching the $1 trillion goal remains feasible.

Semiconductors were the primary driver behind this record-breaking export growth. In June, semiconductor exports reached $44.82 billion—almost triple the same period last year. This robust growth is largely due to surging market demand driven by the AI revolution and significant price increases across various products. In fact, semiconductor exports for the first half of this year have already totaled $192.4 billion, surpassing last year’s full-year total of $173.4 billion. Exports from the computer industry, closely related to semiconductors, also reached $5.41 billion in June, a fourfold increase compared to the same period last year.

Even excluding semiconductors, export performance remained solid. Among the top 20 export commodities, 18 saw export growth. After removing semiconductor products, total exports in June reached $57.4 billion, up 28% year-on-year. For the first half of the year, non-semiconductor product exports totaled $304.3 billion, increasing by 16%.

Car exports in June amounted to $6.71 billion, up 5.8% year-on-year. However, auto parts exports ($1.74 billion) declined by 2.4%, due to factors such as higher local production rates. Ship exports rose by 12.9% to $2.83 billion, primarily driven by increased exports of high-value-added vessels.

Steel exports grew by 9.6% to $2.14 billion in June—the first positive growth in 14 months since April 2025. This was mainly due to rising global demand for construction materials like rebar, fueled by the surge in AI data center construction. General machinery exports resumed growth for the first time in five months, reaching $4.08 billion (up 7.5%).

Petroleum product exports reached $5.59 billion in June, up 49.8% year-on-year. Despite a 7% decline in export volume, price increases offset the impact of lower volumes. Petrochemical exports also rose by 18.8% to $4.07 billion.

Total imports in June reached $66.1 billion, up 30.1% year-on-year. Energy imports ($12.51 billion) surged 45.1%, while non-energy imports ($53.59 billion) increased by 27%. June’s trade surplus hit a record high of $36.15 billion—the first time a monthly trade surplus has broken the $30 billion threshold. The cumulative trade surplus for the first half of the year has already reached $138.3 billion.

Original source: toutiao.com/article/1871959947887628/

Disclaimer: The views expressed in this article are solely those of the author.