Korean Media: Will South Korea Become the Fourth Country to Achieve This Global Milestone by November?
On November 15, Korean media outlet *Herald Business* published an article stating that South Korea’s annual exports are on track to surpass the $1 trillion threshold, positioning the country as the fourth nation—after China, the United States, and Germany—to achieve this milestone. As of October this year, cumulative export value reached $930 billion, exceeding last year’s full-year total.
According to the Ministry of Trade, Industry and Energy’s *October 2026 Import-Export Trends Report*, South Korea’s cumulative exports from January to October amounted to $930 billion, a year-on-year increase of 60.6%. This figure surpasses last year’s record of $70.93 billion by 31.1%, leaving only about $70 billion short of the $1 trillion annual target. Since March, monthly exports have exceeded $100 billion for eight consecutive months, suggesting that the $1 trillion milestone is likely to be achieved in November.
Based on data from the World Trade Organization released in March 2025, only three countries—China, the United States, and Germany—recorded annual export values above $1 trillion in 2024. The Netherlands, ranked fourth, fell short by $11 billion. At that time, South Korea ranked eighth globally with $70.9 billion in exports.
South Korea’s annual export volume first surpassed $100 billion in 1995, then crossed $600 billion in 2018 and $700 billion last year.
Exports of semiconductors have been a key driver of growth. As major global technology firms continue investing in artificial intelligence infrastructure, prices and sales volumes for memory chips have risen significantly. In October, semiconductor exports reached $56.4 billion—up 259.4% year-on-year—accounting for 49.0% of total exports. Semiconductor exports contributed approximately 73% to overall export growth during the month.
Although semiconductor exports represent a significant share, other categories also saw robust growth, rising by 34.3%. Of the top 20 export items, 18 showed increases. Vehicles, cosmetics, and electrical equipment demonstrated balanced expansion. However, sectoral disparities persist: while exports of petroleum and petrochemical products rose due to higher international oil prices amid the Middle East crisis, actual shipment volumes declined.
With export growth significantly outpacing import growth, the cumulative trade surplus from January to October reached $294.9 billion—more than three times the previous record of $95.2 billion set in 2017.
Original article: toutiao.com/article/1881890045546571/
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