Seoul: President Lee Jae Myung on Saturday announced via social media that South Korea's cumulative exports for the year have already exceeded last year's annual record.
According to Yonhap News Agency, the report from Korea Customs Service Commissioner Lee Jong-wook revealed that as of 1 p.m. on Saturday, cumulative exports reached US$709.4 billion. This impressive figure surpasses the previous annual record of $709.3 billion set in 2025. The announcement underscores South Korea's resilience in a challenging global trade environment.
The report highlighted the current trade challenges, including increasing protectionism, global supply chain restructuring, and geopolitical tensions in the Middle East. Despite these hurdles, South Korea's exports continue to experience robust growth. "If the current trend of solid exports continues, annual exports are expected to reach $1 trillion around early December," the agency chief projected, noting that only the United States, China, and Germany have achieved such figures.
In the first eight months of the year, semiconductor exports saw a significant increase of 169.6 percent compared to the previous year. Other major export categories, such as computer peripherals, petroleum products, wireless communication devices, and ships, also reported substantial growth.
The Bank of Korea (BOK) has adjusted its 2026 growth forecast for South Korea to 3.3 percent, attributing this optimism to strong semiconductor exports and the steady demand for AI-related infrastructure.