South Korea Export Inflation at 28-Year High

2026-06-15 21:54 By Isabela Couto 1 min. read

South Korea’s export prices surged 46.9% year-on-year in May 2026, the largest increase since March 1998 during the foreign exchange crisis.

The rise was largely driven by strong demand for semiconductors, a key South Korean export, amid the global artificial intelligence boom.

Among major categories, prices for manufactured goods climbed 46.9%, with computers, electronic and optical equipment soaring 104%.

Prices also increased for coal and petroleum products (88.6%), basic metal products (31.6%), and chemical products (28.3%).

Meanwhile, prices for agricultural, forestry, and marine products rose 32.4%.

On a monthly basis, export prices edged up 0.3%.

South Korea’s net barter terms of trade index, which compares export and import price growth, rose 18.7%, its second-highest reading on record after March’s 22.8%.

Despite higher oil prices, the index increased sharply as soaring semiconductor prices more than offset rising import costs.



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