SEOUL / RankWire.AI / – South Korea’s outbound shipments experienced a 68.7% year-on-year increase in August, reaching a record $98.25 billion, driven by persistent global demand for high-performance memory chips and AI infrastructure. Official figures released by the Ministry of Trade, Industry and Resources revealed that imports rose 22.5% to $63.51 billion during the same period, resulting in a net trade surplus of $34.75 billion for the month. This strong showing extends the trade growth streak of Asia’s fourth-largest economy for a 15th straight month.
Exports of semiconductors, which are the main contributors to the country’s trade success, surged 209% year-on-year to a record high of $46.65 billion. The increase was supported by ongoing capital investment by leading global tech firms expanding data center infrastructure and deploying AI hardware for enterprises. This marks the third consecutive month in which semiconductor shipments exceeded $40 billion. Additional reports from the Yonhap News Agency indicated that exports of computer products grew 419.5% to $6.24 billion amid rising global NAND memory prices.
Trade Ministry Data Confirms Monthly Trade Surplus of $34.75 Billion
Contributions from energy and chemical sectors also played a significant role in the monthly gains. Petroleum product exports increased 65.3% year-on-year to $6.84 billion, while petrochemical exports climbed 12.2% to $3.86 billion. Rising global crude oil prices helped boost unit prices across refined product categories. Conversely, automobile exports declined by 29.8%, totaling $3.85 billion. Officials attributed this downturn to temporary seasonal shutdowns, adjustments to summer holiday schedules across major domestic automakers, and localized labor disputes.
Exports to key trading partners showed widespread growth, with shipments to China surging 119.3% year-on-year to $24.1 billion, driven by large-volume exports of memory chips and industrial machinery. The United States saw an 89.3% increase to $16.5 billion, fueled by strong demand for enterprise computing hardware and advanced semiconductors. The trade ministry reports that Korean exporters maintained positive growth across seven of the country’s nine main regional markets during August.
Exports of Computer Equipment Hit All-Time Monthly Highs
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports rose by 20%, indicating a broader recovery across secondary export sectors. Besides core technology components, secondary battery exports increased 24% to $600 million, and biohealth shipments grew 22.3% to a record $1.41 billion, supported by expanded supply contracts in Europe. Korea’s August exports reached $98.25 billion, up 68.7%, as trade officials continue to monitor shifts in foreign trade policies and global supply chain dynamics.
Average daily export values, adjusted for working days, rose 72.5% year-on-year to $4.47 billion, marking the fourth consecutive month above the $4 billion daily threshold. Analysts forecast that export momentum will stay robust, buoyed by sustained global demand for technology hardware as the year approaches its final quarter. Official government financial institutions will publish comprehensive quarterly trade balance summaries after September data is finalized.