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Data released by South Korean customs on Monday revealed that, propelled by vigorous overseas demand for semiconductors, the country’s exports in the first 20 days of March surged by 50.4% year-on-year, reaching USD 53.3 billion. This marks a record high for the same period in history, in stark contrast to the USD 35.4 billion recorded during the corresponding period last year. Over the same timeframe, South Korea’s imports climbed by 19.7% year-on-year to USD 41.2 billion, culminating in a trade surplus of USD 12.1 billion. When broken down by category, semiconductor exports witnessed a remarkable 163.9% year-on-year increase, hitting an all-time high of USD 18.7 billion. This surge was primarily attributed to the strong demand for artificial intelligence servers, which subsequently drove up the prices of memory chips.
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