Korean Media: South Korea's June Exports Surpass $100 Billion for the First Time, Ranking Fourth After Germany, China, and the U.S.

Semiconductor exports reached $40 billion, trade surplus exceeded $30 billion, and cumulative exports for the first half of the year amounted to $496.7 billion—projecting a potential annual export total of $1 trillion if this trend continues

Data released on the 1st showed that South Korea’s monthly exports surpassed $100 billion for the first time. South Korea became the fourth country globally, after Germany, China, and the United States, to achieve a monthly export value of over $100 billion. Semiconductor exports also broke through the $40 billion mark for the first time, while the trade surplus exceeded $30 billion for the first time, setting multiple historical records.

According to the Ministry of Industry, Trade, and Energy’s release titled “June and First-Half Import-Export Trends” on the 1st, exports in June rose by 70.9% year-on-year to reach $102.25 billion—the first time monthly exports surpassed $100 billion. Imports grew by 30.1% to $66.1 billion, resulting in a trade surplus of $36.15 billion, with the monthly trade surplus also exceeding $30 billion for the first time.

The primary driver behind the historic breakthrough of over $100 billion in monthly exports was semiconductors. Semiconductor exports surged by 199.5% year-on-year to $44.82 billion, breaking the $40 billion monthly threshold for the first time. Increased demand for memory chips driven by expanding investments in AI servers, combined with fixed price increases, fueled export growth. Computer exports rose by 308.8% to $5.41 billion, propelled by rising SSD demand.

Automobile exports increased by 5.8% to $6.71 billion, supported by stable component supply and higher production volumes; shipbuilding exports rose by 12.9%, thanks to a growing share of high-value-added vessels such as LNG carriers. Petroleum product exports rose by 49.8% due to higher international oil prices increasing export unit values, although export volumes declined by 7%.

By region, exports to China and the U.S. both surpassed $20 billion. Exports to China, led by semiconductors, jumped 92.1% to $20.03 billion; exports to the U.S., boosted by strong performances in semiconductors, computers, and cosmetics, rose 78.6% to $20.02 billion. Exports to ASEAN also reached $18.3 billion, setting a new monthly record.

Cumulative exports for the first half of the year also hit an all-time high. Total exports reached $496.7 billion, up 48.4% compared to the same period last year, surpassing previous records. Notably, semiconductor exports totaled $192.4 billion—already exceeding last year’s full-year performance ($173.4 billion)—while the first-half trade surplus reached $138.3 billion, setting a new historical record.

Minister Kim Jung-gwan stated: “Despite challenging conditions such as U.S. tariff hikes, the war in the Middle East, and the spread of protectionism, we achieved the highest export performance in history during the first half of the year, driven by booming semiconductor markets from expanded AI investments and strong performance across key and promising products. In the second half, we will fully address uncertainties like tariff fluctuations and oil price volatility, striving to create a favorable environment for exports.”

Source: Chosun Ilbo

Original article: toutiao.com/article/1869482015977481/

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