SEOUL — South Korea’s export performance reached a record-breaking milestone in the first 20 days of February, propelled by an unprecedented boom in semiconductor demand linked to the global artificial intelligence (AI) expansion.
Record-Breaking Figures
According to data released by the Korea Customs Service on February 23, outbound shipments from February 1 to 20 totaled $43.5 billion, a 23.5% increase compared to the same period last year. This figure surpasses the previous mid-month record of $43.0 billion set in December 2023.
The growth is even more pronounced when adjusted for working days. With only 13 working days—2.5 days fewer than the previous year—the average daily export value surged by 47.3% to $3.35 billion.
The AI Multiplier Effect
The semiconductor sector remains the primary engine of growth. Exports of chips skyrocketed by 134.1%, reaching $15.1 billion. Semiconductors now account for 34.7% of South Korea’s total export volume, nearly doubling their share from a year ago. Analysts attribute this "AI Special" to the sustained demand for memory chips used in high-performance AI servers.
Other sectors showing strength include:
Computer Peripherals: +129.2%
Wireless Communication Devices: +22.8%
Petroleum Products: +10.5%
Conversely, the automotive sector faced a downturn, with passenger car exports dropping 26.6% and auto parts falling 20.7%.
Trade Uncertainties and Policy Response
Despite the stellar performance, the "Trump Risk" looms large. While the U.S. Supreme Court recently ruled against reciprocal tariffs based on the International Emergency Economic Powers Act (IEEPA), the Trump administration has signaled its intent to utilize other trade statutes—such as Sections 301 and 232—to impose new tariffs.
In response, the Ministry of Economy and Finance held a "Market Situation Monitoring Meeting" on Monday. First Vice Minister Lee Hyung-il emphasized that the government would remain vigilant. "We will make every effort to ensure that the balance of interests and export conditions secured through the Korea-U.S. tariff agreements are not compromised," Lee stated.
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