Lates News

According to a report from the Korean Yonhap News Agency, driven by strong demand for storage chips, exports in July soared nearly 63% year-on-year to $98.99 billion, marking the second-highest monthly export amount in history, only behind June's $102.2 billion. Imports increased by 26.5% to $68.56 billion, resulting in a trade surplus of $30.32 billion. From an industry perspective, semiconductor exports surged 179% to $41 billion, breaking the $40 billion mark for two consecutive months. Despite intensifying competition, global storage product prices remain high. Data shows that driven by investment projects in AI data centers launched by large high-tech companies, exports to the U.S. skyrocketed by 68.7%, reaching $17.4 billion. Minister of Trade, Industry and Energy Lee Chang-yang stated that, bolstered by strong performance in the semiconductor industry, 19 out of Korea's 20 major export categories achieved growth, showcasing a significant diversification of the export structure.