Overview

• Exports rose 4.3% in June to $59.8 billion, marking the highest-ever figure for the month
• Semiconductor shipments jumped 11.6% to an all-time high of $14.97 billion driven by demand for HBM and DDR5 chips
• Shipments to the United States and China declined 0.5% and 2.7% respectively under looming 25–50% duties
• June’s trade surplus reached $9.08 billion, the largest monthly surplus since September 2018
• Seoul is seeking an extension of the tariff pause and encouraging firms to diversify into ASEAN, the EU, Taiwan and Vietnam