South Korea’s exports from June 1 to 10 rose 5.4% compared to the same period last year, thanks largely to a strong rebound in semiconductor shipments.
The Korea Customs Service on June 11 reported that exports totaled $15.48 billion in the first 10 days of June, up from $14.68 billion a year earlier. Adjusting for working days, the daily average export value increased by 15% to $2.81 billion.
Semiconductors were the main growth driver, with export value climbing 22% to $3.63 billion. This is the first time in two months that the sector saw a double-digit rise, fueled by steady demand for high-end memory chips like HBM and rising prices for products such as DRAM.
Despite concerns that U.S. tariffs would hurt car exports, passenger vehicle shipments grew 8.4%, supported by increased exports to Europe and Canada. However, exports of petroleum products and wireless communication devices fell sharply by 20.5% and 43.1%, respectively.
By region, exports to the United States rose 3.9% to $2.95 billion. Shipments to China and the European Union also increased by 2.9% and 14.5%. Analysts point out that part of the export growth reflects a low base from last year, when exports in early June had declined 4%.
On the import side, South Korea’s purchases rose 11.5% to $17.18 billion, driven by increases in semiconductors (15.2%), machinery (16.8%), and gas (36%). Imports from China and the U.S. grew by 14.1% and 20.3%, respectively.
The faster rise in imports compared to exports pushed the trade deficit for the first 10 days of June to $1.78 billion, almost $1 billion wider than the deficit during the same period last year.
