Lead
South Korea's monthly exports rose nearly 63 percent in July from a year earlier to US$98.89 billion, the second-highest figure ever recorded, according to data from the Ministry of Trade, Industry and Resources. The result was slightly below the all-time high of $102.2 billion posted in June, as solid global demand for memory chips continued to drive outbound shipments.
Imports increased 26.5 percent on-year to $68.56 billion, yielding a trade surplus of $30.32 billion.
Coverage comparison
All three reports from Yonhap News — English, the only outlet whose coverage was reviewed, presented the same core figures and attributed them to the industry ministry. The reports consistently highlighted the role of memory chips and artificial intelligence (AI) in driving the export growth, with one version noting that the industry is entering "the era of agentic AI" and that prices for both DRAM and NAND continued to rise.
The reports differed slightly in the level of detail provided. One version included additional data on mobile device exports and a breakdown by destination, while another focused more narrowly on the headline figures and sectoral performance. All versions carried the same overall framing of strong, positive economic performance.
Key claims
- Exports of semiconductors, described as the backbone of Asia's fourth-largest economy, rose 179 percent to $41 billion, topping the $40 billion mark for two consecutive months. The industry ministry attributed the surge to high global prices for memory products and strong demand from AI data centers.
- Excluding semiconductors, total exports rose 26 percent on-year in July.
- Automobile exports increased 7 percent to $6.2 billion, supported by strong global demand for hybrid and other eco-friendly models.
- Petroleum product shipments jumped 34.1 percent to $5.68 billion, while petrochemical products gained 10.3 percent to $4.18 billion. The ministry noted that export volumes of petroleum products decreased following government efforts to stabilize domestic supply, but higher oil prices amid Middle East uncertainties lifted export values.
- Mobile device exports rose 51 percent to $1.81 billion, as premium smartphones such as the Galaxy S26 lineup maintained solid sales despite rising chip-driven production costs.
- By destination, exports to China nearly doubled to $21.68 billion, driven by strong shipments of chips, nonferrous metal products and petroleum goods. Exports to the United States surged 68.7 percent to $17.4 billion, attributed to AI data center investment projects by major high-tech companies.
- Exports to Southeast Asian countries rose 73.7 percent to $18.8 billion, supported by strong shipments of semiconductors, displays and ships.
- Outbound shipments of home appliances fell 4.1 percent to $600 million, becoming the only declining category among the country's top 20 export items.