SEOUL : Official data released by the Ministry of Industry on Tuesday showed that semiconductor exports climbed to $16.6 billion, marking a year-on-year increase of more than 20 percent. The ministry attributed the boom to strong global demand for advanced memory chips, particularly HPM microelectronic chips widely used in artificial intelligence servers.
Automobiles, another backbone of Korea’s economy, also registered a milestone, with exports totaling $6.4 billion, the highest ever recorded for September.
Driven by these strong performances, South Korea’s total exports reached $65.9 billion, the strongest showing in more than 42 months.
However, exports to the United States slipped 1.4 percent year-on-year to $10.27 billion, weighed down by tariffs on steel, vehicles, and machinery. Washington had initially imposed a sweeping 25 percent tariff package targeting Korean industries, but Seoul secured a last-minute agreement to lower the rate to 15 percent.
South Korea's semiconductor exports hit a record $16.6 billion, thanks to strong demand for memory chips, despite US tariffs. Total exports reached $65.9 billion, the highest in 42 months. However, exports to the US decreased slightly due to tariffs on steel and vehicles, despite a reduction in the tariff rate.