SEOUL, Sept 5 \u2014 South Korea’s exports have reached $709.4 billion so far \u200bthis year, surpassing last year’s annual record, the customs office said on Saturday, as the economy \u200crides high on booming global demand for AI chips.<\/p>\n
The country’s exports hit $709.3 \u2060billion last year, a \u200bsecond consecutive annual record.<\/p>\n
Asia’s fourth-largest \u2060economy is on track to reach $1 trillion in \u200cannual exports by \u200cearly December, becoming the fourth country to hit \u2060the milestone after the United \u2060States, China and Germany, according to the Korea Customs Service.<\/p>\n
“Our exports continue to show remarkable growth momentum, even amid an uncertain trade environment due to strengthened protectionism, global supply chain restructuring and the Middle \u200cEast situation,” the customs office said.<\/p>\n
CHIPS \u200bACCOUNT FOR 41% OF EXPORTS<\/p>\n
From January to August this year, semiconductor exports increased by 169.6% to $281 billion compared to the same period last year, representing 41% of total exports.<\/p>\n
South Korea is home to leading global memory chipmakers Samsung Electronics and SK Hynix, which \u200bare benefiting from surging prices as the AI investment \u200cboom exacerbates a \u200cchip \u2060shortage.<\/p>\n
Passenger cars, South Korea’s No.2 export item, saw overseas shipments fall 4% during January to August from a year earlier.<\/p>\n
Korea’s exports to China, its top export destination, \u200cjumped 76% during the \u200bperiod and shipments to the \u200cUntied States increased \u206057%, the \u200bdata showed.<\/p>\n
(Reporting by Hyunjoo Jin and Jihoon Lee; Editing by \u200bTom Hogue)<\/p>\n","protected":false},"excerpt":{"rendered":"SEOUL, Sept 5 \u2014 South Korea’s exports have reached $709.4 billion so far \u200bthis year, surpassing last year’s…\n","protected":false},"author":2,"featured_media":144038,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[78,11441,16233,2333,16234,2285,602,31,16236,154,1049,16235,33,1583,1013,5192,13216,11816,16232],"class_list":["post-144037","post","type-post","status-publish","format-standard","has-post-thumbnail","category-south-korea","tag-business","tag-cars","tag-classifieds","tag-finance","tag-homes","tag-international","tag-jobs","tag-korea","tag-local","tag-news","tag-radio","tag-salt-lake","tag-south-korea","tag-sports","tag-technology","tag-television","tag-traffic","tag-utah","tag-weather"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/144037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=144037"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/144037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/144038"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=144037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=144037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=144037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}