South Korea Nears $1 Trillion in Annual Exports for the First Time

South Korea has already surpassed its previous full-year export record, raising the prospect that it could reach $1 trillion in exports for the first time this year.

Cumulative exports stood at $709.4 billion as of 1 p.m. on Sept. 5, according to the Ministry of Trade, Industry and Energy. That edged past last year’s record annual total of $709.3 billion. South Korea is now on track to set a new all-time export record for the third consecutive year since 2024.

The momentum has been consistent. Exports reached their highest level ever for the corresponding month in every month from January through August. Monthly exports exceeded $100 billion for the first time in June, then remained close to that level at $99 billion in July and $98.3 billion in August.

If the trend continues, South Korea could become the fourth country in the world to record $1 trillion in annual exports, after Germany, the United States and China. The article also warns that the country’s export performance remains heavily concentrated in semiconductors, which make up more than 40% of total exports. Expanding sectors such as automobiles and other non-semiconductor industries will be necessary to keep growth stable.