SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments increased by 68.7% year-on-year in August, reaching $98.25 billion, driven by persistent global demand for high-performance memory chips and artificial intelligence infrastructure. Data from the Ministry of Trade, Industry and Resources confirmed that imports also grew by 22.6% during the same period to $63.51 billion, resulting in a monthly trade surplus of $34.75 billion. Korea’s August exports jumped 68.7% to $98.25 billion as Asia’s fourth-largest economy continues its trade expansion streak for a 15th consecutive month.
Semiconductor exports, which are the main factor behind the country’s trade performance, soared 209% year-on-year to an all-time high of $46.65 billion. The growth in chip shipments was driven by sustained capital expenditure programs among major global technology firms expanding data center networks and enterprise AI hardware deployments. This marks the third straight month that semiconductor export volumes have exceeded the $40 billion mark. Additional data from the Yonhap News Agency revealed that computer product exports surged 419.5% to $6.24 billion amid elevated global NAND memory pricing.
Korea’s August Exports Rise 68.7% on Semiconductor Boom
Contributions from energy and chemical sectors also played a role in the monthly gains, with petroleum product exports climbing 65.3% year-on-year to $6.84 billion and petrochemical exports increasing 12.2% to $3.86 billion. Support from higher global crude oil prices helped boost unit prices across refined export categories. Meanwhile, automobile exports declined 29.8% to $3.85 billion, a downturn officials attributed to temporary seasonal shutdowns, revised summer holiday schedules across major domestic auto plants, and localized labor disputes.
Looking at trade regions, outbound shipments to key markets showed widespread expansion. Exports to China jumped 119.3% year-on-year to $24.1 billion, supported by high-volume shipments of memory chips and industrial machinery. Exports to the United States increased 89.3% to $16.5 billion, driven by strong demand for enterprise computing hardware and advanced semiconductors. Records from the trade ministry indicate that Korean exporters maintained growth across seven of the nine primary regional markets during August.
Memory Prices Bolster Export Growth
Trade Minister Kim Jung-kwan stated in an official release that overall non-semiconductor exports grew by 20%, indicating a broader recovery across secondary export sectors. In addition to core technology components, secondary battery shipments rose 24% to $600 million, while biohealth exports increased 22.3% to a record $1.41 billion amid expanded European supply contracts. As state trade officials continue to monitor global supply chain conditions and foreign trade policy developments, Korea’s August exports increased by 68.7% to $98.25 billion.
Adjusted for working days, the daily average export value rose 72.5% year-on-year to $4.47 billion, marking four straight months above the $4 billion daily threshold. Analysts expect this momentum to persist, supported by ongoing global technology hardware demand heading into the year’s final quarter. The government’s financial institutions will publish detailed quarterly trade balance summaries after September’s data collection concludes.