South Korea's exports have topped $700 billion so far this year, surpassing last year's full-year total. With 117 days left in the year, the country has already set a record and moved within reach of becoming the fourth nation to ship $1 trillion in goods in a single year.
Cumulative exports reached $709.4 billion as of 1 p.m. on the 5th, according to the Ministry of Trade, Industry and Energy and the Korea Customs Service. That topped last year's annual figure of $709.3 billion in 248 days. After crossing $700 billion for the first time on a yearly basis in 2025, Korea reached the same mark in early September this year.
Exports set monthly records for each of the first eight months of the year. In June, monthly shipments exceeded $100 billion for the first time, reaching $102 billion. July and August exports of $99 billion and $98.3 billion ranked second and third among all months on record. Last year's monthly average was $59.1 billion.
Semiconductors drove the record run. Chip exports totaled $281.2 billion from January through August, up 169.6% from a year earlier. The eight-month figure was 60% larger than last year's annual total of $175.3 billion. Semiconductors' share of total exports rose to 40.6%.
Total exports over the same period rose 52.8% to $693.3 billion. Semiconductors accounted for about 74% of the overall increase. Exports excluding chips also grew 18.0%, but semiconductors far outpaced the broader gain.
Computer peripherals surged 262.2%, while petroleum products, wireless communication devices and ships rose 40.7%, 28.1% and 12.4%, respectively. Passenger car exports fell 4.4% and auto parts declined 7.3%, showing a divide across product lines.
By destination, exports to China rose 76.1% to $145.3 billion, while shipments to the U.S. and Vietnam gained 57.0% and 57.7%. Exports to all three markets exceeded last year's annual totals in just eight months. Shipments to Hong Kong and Malaysia jumped 170.7% and 95.4%. Exports to the Middle East fell 9.8%, weighed down by regional instability.
The chances of reaching $1 trillion for the year have improved. Monthly exports averaging about $76.7 billion from September through December would put the annual total at $1 trillion. That is about 12% below the monthly average of roughly $86.7 billion recorded in the first eight months, meaning the target remains attainable even if the pace slows somewhat.
"Despite an uncertain external environment including rising protectionism, the reshaping of global supply chains and tensions in the Middle East, major products led by semiconductors grew broadly, allowing us to surpass last year's annual export record 117 days ahead of schedule," Korea Customs Service Commissioner Lee Jong-wook said. "If the current pace continues, we can reach $1 trillion in annual exports in early December, becoming the fourth country to do so after the United States, China and Germany."
