(2nd LD) S. Korea’s exports up 4.3 pct to US$59.8 bln in June on robust chip demand: data

(ATTN: ADDS byline, more details, photo)By Kim Na-young SEOUL, July 1 (Yonhap) -- South Korea's exports rose 4.3 percent from a year earlier in June thanks to strong global demand for semiconductors, marking a turnaround from an on-year drop the previous month, government data showed Tuesday. Outbound shipments came to US$59.8 billion last month, the highest for any June, according to data compiled by the Ministry of Trade, Industry and Energy, recovering from a 1.3 percent contraction in May. Imports added 3.3 percent on-year to $50.72 billion, resulting in a trade surplus of $9.08 billion. Containers await shipment overseas at a port in the southeastern city of Busan on June 30, 2025. (Yonhap) The ministry attributed the export growth to the robust performance of semiconductors and automobiles, the country's top two export items. Outbound shipments of semiconductors jumped 11.6 percent on-year to reach an all-time high of $14.97 billion in June, driven by demand for high-value products, such as high bandwidth memory (HBM) chips and DDR5, sparked by the growth of the artificial intelligence (AI) market. In particular, outbound shipments of memory chips surpassed the $10 billion mark for the first time as the average quarterly price of DRAM continued to increase. Auto exports increased 2.3 percent to $6.3 billion, the highest for any June, on robust electric vehicle (EV) demand in Europe. EV shipments rose 11.2 percent, snapping a 17-month losing streak, while exports of hybrid cars advanced 23.2 percent. Exports of computers, including solid state drives (SSDs), advanced 15.2 percent to $1.33 billion, while bio-health exports surged 36.5 percent to $1.66 billion, also hitting the highest mark for any June. Ship exports also shot up 63.4 percent to $2.5 billion, up for the fourth consecutive month. Shipments of agro-fisheries products gained 7.7 percent to $1.03 billion, and cosmetics exports soared 22 percent to $950 million. On the other hand, shipments of petroleum and petrochemical products decreased 2 percent and 15.5 percent to $3.62 billion and $3.36 billion, respectively. Steel exports also declined 8 percent to $2.4 billion due to a slowdown in global demand amid 50 percent tariffs on all steel imports by the administration of U.S. President Donald Trump. Cars await shipment overseas at a port in Pyeongtaek, about 65 kilometers south of Seoul. (Yonhap) By region, exports to the United States went down 0.5 percent to $11.24 billion amid the U.S. administration's sweeping tariff measures. In detail, auto exports to the U.S. slid 18.4 percent, while chip and bio-health exports increased 34.6 percent and 164.1 percent, respectively. Exports to China also dropped 2.7 percent to $10.42 billion amid sluggish demand for semiconductors, machinery and displays. But shipments to the Association of Southeast Asian Nations (ASEAN) went up 2.1 percent to $9.76 billion, and exports to the European Union expanded 14.7 percent to $5.8 billion. Exports to Taiwan, a major destination for chips, rose 31 percent to $4.34 billion, a record high for June. Shipments to India, Japan and the Middle East also increased 2.3 percent, 3 percent and 14.8 percent, respectively. Meanwhile, South Korea's combined exports in the first six months of this year came to $334.7 billion, edging down 0.03 percent from a year ago. Imports decreased 1.6 percent to $306.9 billion over the same period, resulting in a trade surplus of $27.8 billion. "Despite unprecedented uncertainties in the global trade environment, including U.S. tariff measures, a slowdown in the economic recovery and the Middle East crisis, our exports in the first half remained at a similar level to that of last year," Industry Minister Ahn Duk-geun said. Ahn said the government will do its "utmost" to cushion the blow from U.S. tariffs on Korean companies by devising measures to support their exports and through tariff negotiations with Washington. nyway@yna.co.kr(END)

https://img.yna.co.kr/photo/yna/YH/2025/06/30/PYH2025063009320005100_P2.jpg

(ATTN: ADDS byline, more details, photo)
By Kim Na-young

SEOUL, July 1 (Yonhap) — South Korea’s exports rose 4.3 percent from a year earlier in June thanks to strong global demand for semiconductors, marking a turnaround from an on-year drop the previous month, government data showed Tuesday.

Outbound shipments came to US$59.8 billion last month, the highest for any June, according to data compiled by the Ministry of Trade, Industry and Energy, recovering from a 1.3 percent contraction in May.

Imports added 3.3 percent on-year to $50.72 billion, resulting in a trade surplus of $9.08 billion.

Containers await shipment overseas at a port in the southeastern city of Busan on June 30, 2025. (Yonhap)

The ministry attributed the export growth to the robust performance of semiconductors and automobiles, the country’s top two export items.

Outbound shipments of semiconductors jumped 11.6 percent on-year to reach an all-time high of $14.97 billion in June, driven by demand for high-value products, such as high bandwidth memory (HBM) chips and DDR5, sparked by the growth of the artificial intelligence (AI) market.

In particular, outbound shipments of memory chips surpassed the $10 billion mark for the first time as the average quarterly price of DRAM continued to increase.

Auto exports increased 2.3 percent to $6.3 billion, the highest for any June, on robust electric vehicle (EV) demand in Europe.

EV shipments rose 11.2 percent, snapping a 17-month losing streak, while exports of hybrid cars advanced 23.2 percent.

Exports of computers, including solid state drives (SSDs), advanced 15.2 percent to $1.33 billion, while bio-health exports surged 36.5 percent to $1.66 billion, also hitting the highest mark for any June.

Ship exports also shot up 63.4 percent to $2.5 billion, up for the fourth consecutive month.

Shipments of agro-fisheries products gained 7.7 percent to $1.03 billion, and cosmetics exports soared 22 percent to $950 million.

On the other hand, shipments of petroleum and petrochemical products decreased 2 percent and 15.5 percent to $3.62 billion and $3.36 billion, respectively.

Steel exports also declined 8 percent to $2.4 billion due to a slowdown in global demand amid 50 percent tariffs on all steel imports by the administration of U.S. President Donald Trump.

Cars await shipment overseas at a port in Pyeongtaek, about 65 kilometers south of Seoul. (Yonhap)

By region, exports to the United States went down 0.5 percent to $11.24 billion amid the U.S. administration’s sweeping tariff measures.

In detail, auto exports to the U.S. slid 18.4 percent, while chip and bio-health exports increased 34.6 percent and 164.1 percent, respectively.

Exports to China also dropped 2.7 percent to $10.42 billion amid sluggish demand for semiconductors, machinery and displays.

But shipments to the Association of Southeast Asian Nations (ASEAN) went up 2.1 percent to $9.76 billion, and exports to the European Union expanded 14.7 percent to $5.8 billion.

Exports to Taiwan, a major destination for chips, rose 31 percent to $4.34 billion, a record high for June.

Shipments to India, Japan and the Middle East also increased 2.3 percent, 3 percent and 14.8 percent, respectively.

Meanwhile, South Korea’s combined exports in the first six months of this year came to $334.7 billion, edging down 0.03 percent from a year ago.

Imports decreased 1.6 percent to $306.9 billion over the same period, resulting in a trade surplus of $27.8 billion.

“Despite unprecedented uncertainties in the global trade environment, including U.S. tariff measures, a slowdown in the economic recovery and the Middle East crisis, our exports in the first half remained at a similar level to that of last year,” Industry Minister Ahn Duk-geun said.

Ahn said the government will do its “utmost” to cushion the blow from U.S. tariffs on Korean companies by devising measures to support their exports and through tariff negotiations with Washington.

nyway@yna.co.kr
(END)