Overview

• Exports reached $35.5 billion in Aug. 1–20, up 7.6% from a year earlier, according to Korea Customs Service data.
• Imports edged up 0.4% to $34.7 billion, yielding a trade surplus of about $800 million for the period.
• Semiconductor shipments rose nearly 30% and autos gained 22%, while steel fell 4.5% and petroleum products declined 4%.
• Shipments to the United States slipped 2.7% as exports to China rose 2.7%, with notable increases to Thailand (59%) and Singapore (82%).
• A recent deal capped most U.S. tariffs on Korean goods at 15% with exclusions for smartphones and laptops, though a 25% levy on Korean cars remains pending an executive order and the White House has threatened chip tariffs by late August.