South Korea Exports $709.4B, AI Chip Surge

South Korea Exports $709.4B, AI Chip Surge

South Korea’s exports have reached $709.4 billion for the January‑August 2026 period, overtaking the full‑year 2025 export total of $709.3 billion and setting a new record. The Korea Customs Service projects that the country will cross the $1 trillion export threshold by early December, which would place it fourth globally after the United States, China and Germany.

Semiconductor shipments were the primary driver, soaring 169.6% year‑on‑year to $281 billion during the same eight‑month span and accounting for 41% of South Korea’s total exports. The surge reflects booming global demand for artificial‑intelligence chips, which has lifted prices and created supply shortages. South Korea’s two leading memory‑chip makers, Samsung Electronics (KS:005930) and SK Hynix (KS:000660), have both benefited from this environment.

In contrast, passenger‑car exports – the nation’s second‑largest export category – declined 4% year‑on‑year over the January‑August period, underscoring weaker demand in the automotive sector.

Export growth was also strong in South Korea’s two biggest trading partners. Shipments to China, the largest overseas market, rose 76% YoY, while exports to the United States increased 57% in the same timeframe.

The customs office noted that export momentum remains robust despite rising protectionist measures, ongoing adjustments in global supply chains, and geopolitical uncertainty stemming from the Middle East. The data highlight the expanding role of AI‑related semiconductor demand, with chips now representing more than two‑fifths of the country’s total exports.