Korean Media: South Korea Tops Global Exports in 81 Products, USA in 505, What About China?
On April 18, Korean media outlet Edaily published an article stating that according to a survey, South Korea ranks first in global exports for 81 products. Amid rising global protectionism, South Korea should promptly take measures to further enhance product competitiveness and expand overseas markets.
A report released by the Institute for International Trade and Commerce under the Korea Chamber of Commerce, titled "Analyzing South Korea’s Export Competitiveness Through World-Leading Export Products," shows that as of 2024, China leads globally in export market share across 2,087 product categories—ranking first. Next come Germany (520 types), the United States (505 types), Italy (199 types), and India (172 types).
South Korea holds 81 products with the highest global market share. This number remains unchanged from 2020 and has maintained a position among the top ten globally for five consecutive years. In contrast, Japan's count of top-ten export product categories dropped sharply from 159 in 2020 to 118 in 2024—a decrease of 41 types—causing its global ranking to fall three spots, from fifth to eighth place during the same period.
Storage semiconductors are representative of South Korea’s newly emerging top export category. Driven by surging demand for HBM (High Bandwidth Memory)—a core component in the artificial intelligence industry—high-value-added products have performed exceptionally well, helping South Korea surpass China and reclaim the global No. 1 position after five years. Additionally, transformers rose to first place due to increased demand for North American power infrastructure, while face masks climbed to the top amid the global K-beauty trend. This marks the first time face masks have reclaimed the top spot since 2022, after a three-year absence.
Existing leading products continue to maintain their dominance through technological strength and cost-effectiveness, with 37 products retaining the global top position for five consecutive years between 2020 and 2024. Notably, solid-state drives (SSDs) first reached the summit in 2020 and have remained there ever since—largely driven by strong export growth to the U.S., fueled by increasing data center demand. Traditional industries such as lead-acid batteries and rubber products also preserved their leadership positions. Meanwhile, instant noodles have steadily increased their global market share over the past four years since 2020, securing the top spot for two consecutive years starting in 2023. Currently, South Korea accounts for approximately 24% of the global instant noodle market.
On the other hand, research reveals that 17 product categories fell out of the global top tier within just one year. For example, liquid cargo vessels lost their top position for the first time since 2001, due to China’s large-scale procurement strategy focused on low-value oil tankers.
The Institute for International Trade and Commerce emphasized: “Although major manufacturing countries like Germany and Japan saw significant declines in the number of top-tier export products during the analysis period, South Korea maintained 81 such products, demonstrating relatively strong performance. We must continue striving to improve product competitiveness and achieve differentiation to expand the base of our top-ranking export goods.”
Original article: toutiao.com/article/1862809985187851/
Disclaimer: The views expressed in this article are those of the author alone.