Korea's monthly exports hit a fresh high by surpassing the $100 billion mark for the first time in June, amid the record-breaking performance of chips, data showed Wednesday. Outbound shipments surged 70.9 percent on-year to $102.25 billion in June, according to the Ministry of Trade, Industry and Resources. Imports rose 30.1 percent on-year to $66.1 billion, resulting in a trade surplus of $36.15 billion. It also marked the first time that the monthly trade balance has surpassed $30 billion. Exports of semiconductors nearly tripled to reach $44.82 billion, with monthly exports surpassing $40 billion for the first time on the back of surging demand for memory chips. Outbound shipments of computer products soared more than 300 percent to $5.41 billion as global tech companies expanded investment in artificial intelligence (AI) infrastructure, the ministry added. Exports of mobile devices also jumped 51.9 percent to $1.55 billion amid growing demand for new smartphones. The data showed automobile exports rising 5.8 percent to $6.71 billion following the stabilization of auto parts supplies. Ou
Global semiconductor exports surge, driven by AI demand: WSJ