South Korea’s exports rose 53.2% year on year to a record US$87.75 billion in May, preliminary trade data showed.

AI-driven chip demand lifted semiconductor sales and pushed the country’s trade surplus to a record US$26.95 billion.

Semiconductor exports jumped 169.4% to a record US$37.16 billion. Computer exports rose 290.7%, petroleum product exports gained 46.6%, and automobile exports fell 5.9%.

South Korea’s memory chip export mix has been shifting toward AI-focused high-bandwidth memory (HBM) products.

This includes SK hynix shipments to Nvidia, which are recorded as exports to Taiwan because the chips are sent to Taiwan Semiconductor Manufacturing Company for packaging before reaching customers.

Shipments to the United States and China increased 59.1% and 80.9%, respectively, while imports rose 20.8% to US$60.80 billion.

The trade data may also reinforce expectations that the Bank of Korea, the country’s central bank, will stay cautious on easing after it held rates at 2.5% in May and raised its 2026 growth forecast on stronger semiconductor exports.

🔗 Source: Reuters

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