On June 22, it was reported that South Korea witnessed robust export growth in early June, largely driven by the sustained boom in the semiconductor industry. According to data released by South Korean customs on Monday, after adjusting for differences in working days, South Korea's exports in the first 20 days of June experienced a significant year-on-year increase of 49.7%, slightly lower than the 52.6% growth seen in the same period in May. Without such adjustments, exports soared by 60.4% year-on-year, while imports rose by 23.2%, resulting in a trade surplus of USD 17.5 billion.

Among the various export categories, chip exports stood out with a remarkable year-on-year surge of 188.4%, spearheading the overall export growth. Exports of computer-related products also saw a substantial increase of 293.3%. Additionally, petroleum product exports rose, attributed to higher energy prices. This strong external demand can be largely attributed to the rapid growth of investments in areas related to artificial intelligence (AI) and data centers.

The data further underscores that semiconductors continue to be the primary engine driving South Korea's economic growth, effectively offsetting weaknesses in other sectors of the economy. Policymakers are now evaluating the implications of the long-term boom in the semiconductor industry, which not only supports economic expansion but also contributes to increased tax revenues and higher asset prices.