South Korea sets export record

South Korea's exports for the current year have exceeded $709.4 billion up until early September, surpassing its total exports for 2025, which amounted to $709.3 billion. This is driven by the continued strong global demand for AI-related semiconductor chips. Data indicate that South Korea's economy, the fourth largest in Asia, is heading toward a new record in exports in 2026, potentially surpassing the $1 trillion mark in early December, making it the fourth country to reach this level after the United States, China, and Germany. Semiconductors are leading the Korean export boom, with exports of these chips increasing by 169.6% from January to August compared to the same period last year, reaching approximately $281 billion—about 41% of total exports. In August alone, semiconductor exports rose by 209% year-on-year, reaching $46.65 billion, while overall exports increased by 68.7% to $98.25 billion. This trend reflects the increasing reliance of the Korean economy on the technology sector, especially semiconductors, while car exports declined by 4% during the same period. Additionally, data show that Korea's exports to China, its largest market, grew by 76%, and to the United States by 57%, despite challenges in the global trade environment characterized by protectionist policies, restructured supply chains, and geopolitical tensions. In August, exports stood at $98.25 billion, with a trade surplus of $34.75 billion, reflecting the continued strong demand for AI products and technological chips.

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