In the first 10 days of June, South Korea's exports hit another record high, with semiconductor exports surging by 206%.

South Korea's exports are surging, with data from early June setting a new historical record, as explosive growth in semiconductor demand becomes the most crucial driving force.

According to data released by the Korea Customs Service on June 11, from June 1 to 10, South Korea’s total exports reached US$28.635 billion, up 85.9% year-on-year, marking the highest export record for the first 10 days of any month, surpassing the previous high of US$25.2 billion set in April this year. Meanwhile, the trade surplus stood at US$5.282 billion, with both imports and exports expanding.

Semiconductors are the absolute main driver of this round of export surge. During the same period, semiconductor exports reached US$11.068 billion, soaring 205.8% year-on-year, raising their share of total exports to 38.7%, up 15.1 percentage points compared to the same period last year, and the single-category export value also set a new historical record for the period.

Semiconductors lead the growth, multiple categories of exports blossom

Beyond semiconductors, several other export categories also recorded strong growth.

Computer peripheral equipment exports surged 259.4% year-on-year, ranking first among all categories; petroleum product exports increased 68.7%; ship exports rose 52.0%. These figures indicate that the current export expansion is not driven by a single category, but is showing a broader structural growth trend.

Semiconductor exports account for nearly 40% of total exports, highlighting South Korea's strong dependence on the chip industry in its export structure. Against the backdrop of expanding global investment in artificial intelligence infrastructure, demand for high-bandwidth storage chips and other advanced semiconductors is booming, providing strong support for related South Korean companies.

As for export destinations, exports to South Korea’s main trading partners all achieved year-on-year growth. Exports to China increased 101.4%, to Vietnam grew 102.9%, to the United States rose 54.4%, and to the EU grew 46.0%. The combined export share for China, the US, and Vietnam reached 47.3%.

It is noteworthy that exports to China doubled, reflecting a recovery in Chinese demand for South Korean semiconductors and intermediate goods to some extent. Exports to the US also grew by more than 50%, showing that despite uncertainties in trade policy, South Korea’s exports to the US remain resilient.

Imports expand in tandem, semiconductor equipment procurement accelerates

During the first 10 days of June, South Korea’s total imports were US$23.352 billion, up 35.6% year-on-year.

Among them, semiconductor imports grew 71.3%, imports of semiconductor manufacturing equipment increased 52.2%, crude oil imports rose 42.9%, and machinery imports increased 21.2%. Overall energy imports, including crude oil, natural gas, and coal, rose 39.9%.

The sharp increase in semiconductors and related manufacturing equipment imports shows that Korean chip companies are accelerating their expansion and investment, which aligns with the upward cycle of global semiconductor demand.

Analysis points out that while imports expand, the trade surplus remains at US$5.282 billion, indicating that export growth significantly outpaces imports and the overall trade structure remains healthy.

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