During the initial 20 days of May, South Korea's export sector exhibited remarkable strength, registering a 52.6% year-on-year increase when accounting for variations in working days—a rate surpassing that observed during the corresponding period in April. According to unadjusted figures, exports climbed by 64.8% year-on-year, while imports saw a 29.3% rise, culminating in a trade surplus of $11 billion. This export surge was predominantly fueled by a spike in demand for chips integral to artificial intelligence and data center operations, with chip exports skyrocketing by 202.1% on a year-on-year basis. Additionally, exports of computer-related products experienced an extraordinary 305.5% leap. Concurrently, exports of refined oil products increased, buoyed by elevated oil prices, whereas automobile and home appliance exports lagged, reflecting relative weakness in those sectors. These trends underscore the semiconductor industry's continued dominance in driving South Korea's economic expansion, underscored by persistent robust overseas demand.
