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The Ministry of Trade, Industry and Energy reported that Korea’s exports rose 52 percent in the first 20 days of July compared with the same period a year ago. This sharp increase builds on the 9.5 percent growth seen in the first 10 days of the month, suggesting accelerating momentum as the period progressed. The preliminary data underscores the strength of the country’s key industries amid favorable global conditions.
Semiconductor exports have played a central role in the overall figures, with government data showing consistent double-digit growth in the sector throughout the year. Industry officials noted that demand for memory chips and other components used in artificial intelligence applications has been a major contributor. This has helped South Korea maintain its position as a leading exporter in the technology space.
According to the Bank of Korea, the economy expanded 0.6 percent in the second quarter, supported by robust export performance and recovering consumption. The central bank assessment found that exports rose 4.2 percent from the previous quarter, driven primarily by semiconductors and petrochemical products. Such growth has provided a buffer against domestic challenges and external headwinds.
A separate government release indicated that ICT exports increased 5.8 percent in the first half of the year. The figures reflect broader gains in the information and communication technology field, which forms a substantial portion of the country’s total shipments. Policymakers have pointed to innovation and supply chain efficiencies as reasons for the sustained expansion.
Auto exports, however, showed some weakness with a 9.1 percent decline in July, although parts exports gained 9.5 percent to reach $2.2 billion for the first time since late 2016, separate ministry data revealed. The mixed results within the transport sector highlight varying demand patterns across different product lines. Officials continue to track these developments closely for the remainder of the year.
The positive early July export data arrives as analysts forecast further improvements in the second half, based on improving global trade dynamics. Previous full-month results, such as the 5.9 percent rise recorded in July of the prior year, provide a baseline for comparison. The ministry plans to release complete statistics for the current month in the coming weeks.
