Korean early trading data shows that the semiconductor industry continues to be highly prosperous, with exports surging by 202.1% year-on-year in the first 20 days of May.

In the first 20 days of May, Korean exports continued to show strong growth. Against the backdrop of rising oil prices and concerns about inflation, which have made policymakers' assessment of the situation increasingly complicated, this move highlights the resilience of overseas demand. Data released by the Korean customs on Thursday showed that, excluding the difference in working days, exports in the period from May 1st to 20th increased by 52.6% year-on-year, higher than the 49.4% increase in the same period in April. Without adjusting the calculation method, exports increased by 64.8% year-on-year, imports grew by 29.3% year-on-year, resulting in a trade surplus of $11 billion. The data shows that Korea's export engine is still strong, supported by continued demand for chips related to artificial intelligence and data centers. These data further confirm the trend of the semiconductor industry continuing to dominate in Korea's economic growth, despite the increasingly severe challenges facing other sectors of the Korean economy. Chip exports led the way again, increasing by an astonishing 202.1% year-on-year; exports of computer-related products increased by 305.5% year-on-year, highlighting the continued investment enthusiasm in the field of artificial intelligence. Boosted by the rise in international oil prices, exports of finished oil products also increased, contributing to overall export growth, while exports of cars and household appliances were relatively weak.