Korean Export Items

Growing Presence of Korean Export Items in Global Markets

Overcoming the challenging global economic situation
Korea’s January exports reached a record high of $65.85 bil., fueled by a semiconductor boom. Semiconductor exports doubled compared to the same month of last year.
According to the Ministry of Trade, Industry and Energy (MOTIE), Korea’s exports last month reached $65.85 bil., a massive 33.9% increase year-on-year. Average daily exports, taking into account operating days, also rose 14.0% to $2.8 billion, a record high.

Exports of 13 of the 15 major export items increased. Of these, semiconductor exports reached $20.54 bil., a 102.7% year-on-year increase. While this represents a slight decrease from the all-time high of $20.8 bil. of December last year, it still represents the second-highest performance on record.
Automobile exports rose 21.7% to USD 6.07 bil., driven by increased operating days due to the Lunar New Year holiday being moved from January last year to February this year, and strong performance in eco-friendly vehicles such as hybrids and electric vehicles.

Conversely, petrochemical exports decreased 4.5% to USD 3.52 bil., impacted by lower export prices due to global oversupply.
Following January’s noteworthy performance, a wider range of Korean exporters are further making energetic efforts to release competitive advanced export items, which are expected to capture keen attention in global markets. Korean companies are strategically eying these global target markets to accomplish their export targets for this year, despite the increasingly tough global market environments influenced by global tariffs and crisis factors.
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