South Korea’s export growth remained robust in early June, sustaining its momentum thanks to a continued boom in the semiconductor sector fueled by global artificial intelligence demand.
Exports adjusted for working-day differences rose 49.7% from a year earlier in the first 20 days of the month, according to customs office data released on Monday. Chip exports again led the gains, soaring 188.4% from a year earlier as memory chip prices continued to climb amid growing investment by US technology firms in AI infrastructure.
This figure is slightly lower than the 52.6% rise observed in the corresponding 20-day span of May. However, it confirms the semiconductor industry’s pivotal role in powering Asia’s fourth-largest economy, with exports growing for the 12th consecutive month year-on-year.
The sustained surge underscores how the global AI rally has become South Korea’s primary economic engine, with chip export prices rising at a record pace in May as technology companies scramble to build AI server capacity.
While the export engine fires on all cylinders, economists note the boom has yet to broadly lift the wider economy, with limited spillover into domestic consumer demand remaining a concern for policymakers.
