Seoul: South Korea's monthly exports surged past the $100 billion mark for the first time in June, fueled by a significant increase in semiconductor shipments and rising demand connected to artificial intelligence infrastructure. Exports rose by an impressive 70.9% from the previous year, reaching a record $102.25 billion, according to data from the Ministry of Trade, Industry and Resources.
According to Anadolu Agency, imports grew by 30.1% year-on-year to $66.1 billion, resulting in a trade surplus of $36.15 billion. This surplus marks the first occasion South Korea's monthly surplus has exceeded $30 billion. The ministry noted that South Korea has now joined Germany, the US, and China in recording monthly exports above $100 billion.
The surge in semiconductor shipments, which nearly tripled to $44.82 billion, significantly contributed to this export milestone. This marks the first instance of semiconductor exports surpassing $40 billion on a monthly basis, as global demand for memory chips remained robust. Additionally, exports of computer products more than quadrupled to $5.41 billion, driven by increased investments in AI-related infrastructure by major technology firms.
Other sectors also experienced growth, with mobile device exports rising 51.9% to $1.55 billion and automobile shipments increasing 5.8% to $6.71 billion, thanks to improved auto parts supply conditions. Petroleum product exports increased by 49.8% to $5.59 billion, primarily due to higher prices, while petrochemical exports rose 18.8% to $4.07 billion. Shipments of ships, displays, and steel products also saw gains of 12.9%, 37%, and 9.6%, respectively.
Market-wise, exports to China soared 92.1% to $20 billion, supported by strong demand for chips, petrochemicals, machinery, and mobile devices. Shipments to the US increased by 78.6% to $20 billion, bolstered by expanding AI server investment. Exports to Southeast Asia rose 86.6% to $18.3 billion, and those to the EU climbed 31.8% to $7.62 billion.
In the first half of the year, South Korea's exports reached a record $496.7 billion, up 48.4% from the same period last year, with semiconductor exports surging 163% year-on-year. The ministry attributed the record first-half performance to strong chip exports linked to AI server demand while cautioning that US tariff measures, volatile oil prices, and a potential global economic slowdown could pose risks in the second half.