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4mo ago

South Korea’s Exports Rise 8.3% in Early June on Chip Demand

Exports from January through May declined compared with last year, prompting Seoul to seek U.S. tariff exemptions.

Containers are waiting to be shipped for exports at a port in Pyeongtaek, about 65 kilometers south of Seoul, on June 1, 2025. (Yonhap)
Containers are stacked at a port in the city of Pyeongtaek, Gyeonggi Province, on April 9, 2025. (Yonhap)

Overview

  • Outbound shipments reached $38.7 billion in the June 1–20 period, marking an 8.3% year-on-year increase and a 12.2% jump in daily export volume.
  • Semiconductor exports surged 21.8% to $8.85 billion, accounting for nearly 23% of total goods shipped.
  • Auto shipments rose 9.2% to $3.65 billion, driven by higher sales in Europe even as exports to China slipped 1%.
  • Overall exports for January–May fell 0.9% to $274.9 billion as U.S. tariffs on automobiles and Middle East tensions weighed on trade.
  • Seoul has opened talks with Washington on tariff relief and rolled out fiscal and policy measures to support struggling exporters.