Post by : Badri Ariffin

South Korea’s exports saw a robust 8.2 percent increase in the first 20 days of November, powered by rising global demand for semiconductors and automobiles. Data from the Korea Customs Service, reported by Yonhap News Agency, shows outbound shipments reached $38.5 billion, up from $35.6 billion during the same period last year.

Imports also rose, albeit at a slower pace, climbing 3.7 percent to $36.1 billion, leaving the country with a trade surplus of $2.4 billion.

Semiconductors and Automobiles Lead the Charge
The surge was largely attributed to South Korea’s booming chip and car exports. Semiconductor shipments jumped 26.5 percent year-on-year to $9.75 billion, accounting for over a quarter of total exports. Meanwhile, car exports increased 22.9 percent to $3.81 billion, and ship exports rose 2.3 percent to $1.15 billion.

Key Export Destinations See Growth
Exports to China grew 10.2 percent to $8.22 billion, while shipments to the United States rose 5.7 percent to $6.78 billion. The European Union also saw an increase of 4.9 percent, totaling $3.58 billion in outbound trade.

The steady export performance follows October’s figures, which saw a 3.6 percent year-on-year rise to $59.57 billion, marking the fifth consecutive month of growth. Analysts highlight that South Korea’s strong global positioning in semiconductors and automobiles continues to shield it from external pressures, including US tariffs, reinforcing its role as a major player in international trade.

#Business News #Economic