Key facts
- South Korea aims to become one of the world's top five global exporters.
- The government will concentrate policy efforts on achieving this export goal.
- The country is on track to log $1 trillion in exports this year.
- Exports through June reached a record $496.7 billion, up 48.4% from the previous year.
- June exports alone increased by 70.9% year-on-year to $102.25 billion.
Prime Minister Han Seong-sook reaffirmed South Korea's commitment to becoming a top global exporter, pledging to focus government policy on achieving this goal. Speaking at the 80th anniversary of the Korea International Trade Association, Han stated the country is aiming to log $1 trillion in exports this year, driven by strong demand for memory chips.
South Korea's exports have reached record highs, with shipments through June totaling $496.7 billion, marking a 48.4% increase from the previous year. This surge is largely attributed to robust demand for memory chips used in artificial intelligence servers. In June alone, outbound shipments rose by 70.9% year-on-year to $102.25 billion. The Prime Minister also pledged to diversify products and markets to ensure the sustainability of trade growth and strengthen partnerships with key countries for exports of semiconductors, cars, and ships.