South Korea's exports surge 62.9% in first 20 days of July, chip exports up 180.6%

According to South Korea's customs data, the country's exports in the first 20 days of July jumped 62.9% compared to last year, hitting a record high for the same period. This growth is mainly driven by strong demand for semiconductors fueled by the global AI boom.

Specifically, South Korea's semiconductor exports surged 180.6% in the first 20 days of July, while shipments of computer-related products rose nearly 232%. Adjusted for working days, exports grew 52.3%, imports increased 20%, and the trade surplus reached $12.2 billion.

Bloomberg said the global push for AI and data center construction is a key factor behind the strong performance of South Korea's semiconductor industry. In contrast, car exports fell 10.6%.