Korea's Exports Surge 54% in Early July on Record Chip Shipments

South Korea's exports jumped 53.9 percent from a year earlier to $29.8 billion during the July 1-10 period, marking the highest total for any 10-day span ever compiled by the Korea Customs Service. The figure compares with $19.3 billion shipped in the same stretch of last year and tops the previous record of $28.6 billion set in June.

Semiconductors again did most of the heavy lifting. Chip exports nearly tripled to $11.2 billion, extending a run of strength tied to booming demand for memory used in artificial intelligence infrastructure. The sector has become the single most important driver of the country's trade performance.

Other major categories also advanced. Automobile shipments rose 5.7 percent to $1.89 billion, exports of ships climbed 75.1 percent to $1.54 billion, and petroleum products gained 22.7 percent to $1.75 billion, pointing to broad-based momentum beyond the chip industry.

Imports increased 17.4 percent on-year to $23.5 billion over the period, leaving a trade surplus of $6.4 billion. The widening gap between exports and imports underscores how quickly outbound shipments have outpaced inbound demand this year.

By destination, exports to China surged 88.7 percent to $7 billion, while shipments to the United States rose 43.2 percent to $4.91 billion, showing that both of Korea's largest markets are absorbing sharply higher volumes.

On a cumulative basis, exports this year reached $526.1 billion as of Friday, up 48.6 percent from a year earlier, with the trade surplus over the period totaling $144 billion. The early-July data suggest the export engine that has anchored Asia's fourth-largest economy is entering the second half of the year with considerable speed.