South Korea's Exports Surpass Annual Record Ahead of Schedule

SEOUL, Sept. 5 (Yonhap) -- President Lee Jae Myung on Saturday shared on social media a report from the customs chief showing that South Korea's cumulative exports so far this year had already surpassed last year's annual record.

Lee said in a post on X, formerly Twitter, titled "A report from Korea Customs Service Commissioner Lee Jong-wook," that cumulative exports had reached US$709.4 billion as of 1 p.m. Saturday, exceeding the previous annual record of $709.3 billion set in 2025.

"Despite the uncertain trade environment, including growing protectionism, the restructuring of global supply chains and the situation in the Middle East, our exports continue to show remarkable growth," the agency chief said in the report.

"If the current trend of solid exports continues, annual exports are expected to reach $1 trillion around early December," he said, noting that the United States, China and Germany have so far recorded annual exports of $1 trillion or more.

During the first eight months of this year, semiconductor exports rose 169.6 percent from a year earlier, while exports of other major products, including computer peripherals, petroleum products, wireless communication devices and ships, also grew markedly, government data showed.

The Bank of Korea (BOK) has raised its 2026 growth forecast for South Korea to 3.3 percent, citing strong chip exports driven by steady demand for artificial intelligence (AI)-related infrastructure.