Semiconductor Boom Drives South Korea Toward $700 Billion Export Target
Creatrip Team
3 months ago
South Korea posted record-high November exports, lifting year-to-date shipments to $640.2 billion and keeping the $700 billion annual target in reach. Semiconductor exports surged about 39%—their ninth consecutive monthly gain—setting a new monthly record as demand for high-value memory chips (e.g., HBM, DDR5) and rising memory prices boosted revenue. Automobile exports also rose roughly 14%, led by strong U.S. demand, helping to offset declines in sectors like petrochemicals, steel (still hit by U.S. tariffs), and shipbuilding. Daily average exports were up over 13% year-on-year. Regionally, exports to China and ASEAN grew, while shipments to the U.S. fell marginally by 0.2% after a tariff agreement, thanks to solid semiconductor and car sales. The trade balance showed a $97.3 billion surplus for November and a cumulative $66.07 billion surplus year-to-date. Industry officials said a recent U.S.-focused investment law eased uncertainty and pledged continued policy support to sustain growth momentum.
