South Korea exports surge 62.8% in July as chip shipments accelerate

South Korea’s exports jumped 62.8% year-on-year in July, reaching US$98.89 billion, as strong semiconductor shipments fueled a broad-based rebound in outbound trade.

The full-month figure, released by the Korea Customs Service, validates the sharp acceleration observed in preliminary data earlier in the month, which had already shown exports rising 54% in the first ten days of July.

3% growth recorded in the first twenty days of the month, suggesting momentum persisted through the end of the period.

The surge underscores the pivotal role of the semiconductor sector in South Korea’s export engine.

With chip shipments leading the charge, the data points to sustained global demand for memory and logic devices, a key driver for the country’s largest exporters.

The July performance marks a significant step up from the 52.3% growth recorded in the first twenty days of the month, suggesting momentum persisted through the end of the period.

This export strength aligns with recent industrial output data, which showed a six-year high driven by the same chip and automotive rebounds.