South Korea Exports Reach Fresh Record High

South Korea’s exports jumped 53.2% yoy to a record high of USD 87.75 billion in May 2026, surpassing forecasts of 48.4%, accelerating from a 48% rise in April. Exports exceeded USD 80 billion for the 3rd straight month, mainly driven by a surge in semiconductor shipments. Shipments rose for a 12th straight month, with semiconductor sales soaring 169.4% to a record USD 37.16 billion, lifted by strong AI investment. Exports of computers also surged 290.7%, while shipments of wireless communication devices and displays rose 12.6% and 9.4%, respectively. By contrast, auto shipments continued to decline, falling 5.9%, partly due to shipping disruptions caused by the war in the Middle East, fewer working days, and Korean carmakers' expansion of production in the US in response to Washington's tariff policies. Shipments to China surged 80.9%, driven by semiconductors and consumer goods, while those to the US and ASEAN rose 59.1% and 58.4%, respectively.

South Korea’s exports soared 48% yoy to USD 85.89 billion in April 2026, surpassing forecasts of 45.3%, though slightly easing from an upwardly revised 49.2% jump in March. Exports exceeded USD 80 billion for the 2d straight month, mainly driven by a surge in semiconductor shipments. Shipments rose for an 11th straight month, with semiconductor sales soaring 173.5% to USD 31.9 billion, the highest-ever figure for any April, fueled by strong AI investment and rising memory chip prices. Exports also jumped for petroleum products (39.9%), boosted by rising oil prices due to the ongoing Middle East conflict. By contrast, auto shipments fell 5.5%, partly due to shipping disruptions amid the Iran war and Korean carmakers’ expansion of production in the US in response to Washington’s tariff policies. Shipments to China (62.5%) and the US (54%) jumped, driven by semiconductors, while those to ASEAN surged by 64%. Exports to the Middle East slumped 25.1% due to the ongoing regional crisis.

South Korea’s exports surged 36.7% from a year earlier to USD 25.2 billion in the first 10 days of April, data from the Korea Customs Service showed on Monday. The latest reading marked the highest level ever recorded for the first 10 days of a month, mainly boosted by a jump in semiconductor shipments. Semiconductor exports soared 152.5% to USD 8.573 billion, accounting for 34.0% of total exports, up from 31.5% in the previous month, marking the third consecutive month in which semiconductors accounted for over 30% of total exports. At the same time, shipments of petroleum products jumped 38.6%, and ships surged 26.6%. In contrast, exports declined for both passenger cars (-6.7%) and automotive parts (-7.3%). Among trading partners, exports surged to China, South Korea’s top trading partner (63.8%), as well as the US (24.0%), Vietnam (66.6%), and Taiwan (68.3%). Meanwhile, imports rose 12.7% yoy to USD 22.1 billion during the period, resulting in a trade surplus of USD 3.1 billion.