Seoul: South Korea's exports surged nearly 30 percent in February, reaching a record high for the month, driven by increased demand for semiconductors amid the artificial intelligence boom, government data revealed.
According to Yonhap News Agency, outbound shipments totaled $67.45 billion last month, up 29 percent from $54.2 billion a year earlier, as compiled by the Ministry of Trade, Industry and Resources. This record was achieved despite a three-day reduction in working days due to the Lunar New Year holiday, which fell in February this year, unlike in January 2025. Notably, per-day exports experienced a significant increase, surging 49.3 percent on-year to $3.55 billion, surpassing the $3 billion mark for the first time.
Exports have shown year-on-year growth since June of last year, setting new monthly records for nine consecutive months. Imports also rose by 7.5 percent on-year to $51.94 billion, resulting in a trade surplus of $15.51 billion, the largest ever recorded in the country's history. February marked the 13th consecutive month of a trade surplus.
The surge in exports was primarily driven by the high demand for semiconductors. Chip exports skyrocketed 160.8 percent on-year to an unprecedented $25.16 billion, fueled by a continuous increase in memory chip prices due to heightened demand for AI servers. This marked the third consecutive month that semiconductor exports exceeded $20 billion.
In addition, exports of wireless communication devices, including mobile phones, increased by 12.7 percent to $1.47 billion, maintaining their on-year growth for four months. Computer exports saw a dramatic rise of 221.6 percent to $2.56 billion, marking five straight months of growth.
However, not all sectors experienced growth. Auto exports decreased by 20.8 percent on-year to $4.81 billion, with shipments of auto parts declining by 22.4 percent to $1.45 billion due to reduced production attributed to fewer working days. Exports of petroleum products fell by 3.9 percent on-year to $3.73 billion, impacted by declining global oil prices. Petrochemical and steel exports also faced declines, dropping by 15.4 percent to $3.33 billion and 7.8 percent to $2.36 billion, respectively, due to lower export prices stemming from global oversupply.
Examining destinations, exports to the United States climbed 29.9 percent to a February record of $12.85 billion, driven by significant increases in semiconductor and computer shipments. Exports to China rose 34.1 percent to $12.75 billion amid strong demand for semiconductors, computers, and petroleum products. Shipments to the Association of Southeast Asian Nations (ASEAN) advanced 30.4 percent to $12.47 billion, the third-highest for any month, on robust demand for semiconductors, displays, and ships. Meanwhile, exports to the European Union (EU) grew by 10.3 percent to $5.6 billion, led by solid exports of chips, biohealth, and vessels.