CreatripTeam

South Korea’s exports have kept up five months of growth, putting the government on track to reach its annual target of $700 billion. Through October, cumulative exports reached $579.35 billion, up 2.3% from last year, driven mainly by semiconductors. Memory chips like HBM and DDR5 have sustained high demand, delivering eight straight months of export gains and monthly shipments around $15 billion. Despite concerns from a shortened work schedule during Chuseok (Korean harvest holiday), daily export averages hit a record $298 million in October. To hit $700 billion, Korea needs about $120.65 billion in November–December; current daily export trends plus year-end seasonality and AI server demand make this feasible. Auto exports fell 11% in October, with US-bound car shipments down for eight months amid US tariffs, but a recent Korea–US tariff deal lowering the auto tariff from 25% to 15% (potentially retroactive to November) could spur a rebound. Officials say even if the $700 billion goal is missed, a record or near-record annual export total is likely, reflecting Korea’s strong export competitiveness.