Exports up 60% in first 20 days of June on robust chip sales

South Korea's exports surged 60.4% year-on-year in the first 20 days of June to a record $62 billion, driven by a near-tripling of semiconductor shipments to $25.5 billion amid AI-fueled global demand. The trade surplus reached $17 billion as imports rose 23.2%.

Korea's exports jumped 60.4 percent from a year earlier in the first 20 days of June, data showed Monday, setting a new fresh high for the period amid robust shipments of semiconductors. Outbound shipments reached $62 billion in the June 1-20 period, compared with $38.6 billion tallied in the same period last year, according to the data from the Korea Customs Service. It marked the highest 20-day figure on record, surpassing the previous high of $54.3 billion posted in March this year. Imports went up 23.2 percent on-year to $44.5 billion over the cited period, resulting in a trade surplus of $17 billion, the latest findings showed. By sector, exports of chips nearly tripled to $25.5 billion amid soaring global demand for memory driven by the artificial intelligence AI industry. Semiconductors accounted for 41.2 percent of total exports, up 18.3 percentage points from a year earlier. Exports of automobiles and petroleum products also rose 2.3 percent and 39 percent, respectively, to $3.73 billion and $3.67 billion. Outbound shipments of auto parts, meanwhile, fell 9.5 percent to $1.1 bill