On February 23, an analysis by a relevant agency highlighted that propelled by the soaring demand for semiconductors, South Korea's exports maintained an upward trajectory in the first half of February. According to data released by the Korea Customs Office on Monday, after accounting for variations in working days, exports during the initial 20 days of February witnessed a remarkable year-on-year increase of 47.3%. This growth rate surpassed the revised figure of 34% recorded in January. When not adjusting for working days, shipments experienced a 23.5% rise, while imports grew by 11.7%, resulting in a trade surplus of $4.95 billion.
Notably, semiconductor exports skyrocketed by 134%, continuing the robust growth momentum propelled by investments in AI and data centers. Additionally, shipments of computer peripherals and petrochemical products saw increases of 129% and 11%, respectively. Nevertheless, automobile exports experienced a nearly 27% decline, and shipments of auto parts dropped by approximately 21%. This reflects the ongoing repercussions of adjustments to the U.S. tariff system.
Overall, South Korea's export growth remains underpinned by the global AI cycle, effectively mitigating weaknesses in other sectors.