June Exports Exceed $100 Billion for First Time, Driven by Semiconductor Boom

South Korea's exports achieved a historic milestone in June, exceeding $100 billion for the first time and reaching a total of $102.25 billion. This remarkable performance represents a 70.9% increase compared to the previous year, according to the Ministry of Trade, Industry and Energy's 'June Export and Import Trends' report released on July 1st.

The semiconductor sector was the primary driver of this export boom. Driven by robust demand for high-value memory semiconductors like HBM and a rebound in DRAM fixed prices, semiconductor exports surged by 199.5% year-on-year, surpassing $40 billion for the first time. This marks a new record for the sector.

Overall, 18 out of the top 20 export items saw an increase in shipments. The nation also maintained its positive trade balance for the 17th consecutive month, recording a trade surplus of $36.15 billion in June. This surplus alone surpassed the $30 billion mark for the first time in history. The cumulative trade surplus for the first half of the year reached $138.3 billion.