South Korea's goods exports expanded at the fastest rate since 1978 in June, according to preliminary figures published by the Ministry of Trade, Industry and Resources. Total outbound shipments rose 70.9% from the same month a year earlier, reaching a record $102.25 billion for the month.
The June reading follows a revised 53.4% increase in May. Imports for June advanced 30.1% to $66.10 billion, leaving a trade surplus of $36.15 billion. That surplus surpassed the $30 billion threshold for the first time, and compares with a revised surplus of $27.04 billion in May.
The ministry identified semiconductors as the central force behind the export surge. Exports of chips reached a new monthly record of $44.82 billion in June, roughly triple the level recorded a year earlier, as heightened global demand linked to artificial intelligence infrastructure continued to support shipments.
The trade figures arrive in the context of a major investment announcement from the South Korean government together with leading memory-chip manufacturers Samsung Electronics and SK Hynix. The parties said they would invest more than 800 trillion won, roughly $520 billion, to build new chip-making facilities in southwest Korea. This investment is described as part of a broader initiative by President Lee Jae Myung to boost semiconductor industry and AI infrastructure spending.
June's export performance set several records in dollar terms and reflected a pronounced concentration in semiconductor shipments. While the ministry's preliminary numbers highlight the outsized role of chips in driving headline growth, they also show elevated import activity compared with last year. The resulting trade surplus widened substantially month-to-month.
Policy and industry commitments to large-scale capital expenditure on chip capacity were announced alongside the trade data. The stated investment size is intended to expand production capabilities for memory chips and related AI infrastructure components in southwest Korea.
Summary
South Korea's exports reached a monthly high of $102.25 billion in June, up 70.9% year-on-year, led by record semiconductor shipments of $44.82 billion. Imports rose 30.1% to $66.10 billion, producing a $36.15 billion trade surplus. The government and major memory-chip manufacturers plan investments exceeding 800 trillion won to expand chip-making capacity in southwest Korea.