Despite the impact of the tariff war initiated by the United States, Korea's exports performed well in the first half of this year.
According to the '2025 June and First Half Export and Import Trends' report released by the Ministry of Trade, Industry and Energy on the 30th, export amounts from January to June this year totaled $334.7 billion, a decrease of 0.03% compared to the same period last year. Considering that the first half results are provisional, the Ministry assessed that it effectively maintained the status quo. The average daily export amount, taking into account the number of working days, was $2.56 billion, an increase of 2.3% compared to the previous year.
Imports amounted to $306.9 billion, a decrease of 1.6% compared to the previous year. The trade balance recorded a surplus of $27.8 billion, showing an improvement of $4.8 billion compared to the previous year.
In the first half of this year, exports of five out of the 15 major export items increased.
The export amount of semiconductors, the top export item, reached $73.3 billion, an increase of 11.4% compared to the same period last year. Ship exports increased to $13.9 billion, up 18.8%. Biohealth also achieved an export amount of $8.2 billion, an 11% increase compared to the same period last year. Wireless communication devices saw an increase to $7.5 billion, up 8.5%, while computers rose to $5.9 billion, up 12.6%.
Exports of semiconductors benefited from strong demand for high-value products like DDR5 and HBM, and the fixed prices of major memory products rebounded this year, leading to favorable performance. The semiconductor export amount in the first half of this year marked the highest ever for the first half.
Exports of automobiles, another major export item, decreased to $36.4 billion, down 1.7%. A Ministry official noted, "Despite the U.S. tariff measures and the onset of local electric vehicle production, hybrid vehicle exports performed well ($8.1 billion, +29.5%), limiting the decrease."
Exports of petroleum products ($21.5 billion, -18.8%) and petrochemicals ($21.6 billion, -11.4%) showed double-digit declines due to falling export prices linked to oil prices and decreased demand due to the global economic slowdown.
Despite U.S. tariff measures, steel exports increased in volume but decreased by 5.9% in value to $15.6 billion due to falling unit prices.
By region, exports to ASEAN, the EU, and the Middle East increased. Exports of semiconductors and automobiles, the top export items for ASEAN and the EU, recorded double-digit growth.
In contrast, exports to the United States recorded a decline of 3.7% to $62.2 billion, due to weak automobile and general machinery exports. Exports to China also fell by 4.6% to $60.5 billion due to the decrease in semiconductor exports, the largest export item.
Imports in the first half of the year totaled $306.9 billion, a decrease of 1.6%. Energy imports decreased by 15.3% ($59.5 billion) due to low oil prices. Non-energy imports increased by 2.4% ($247.4 billion), mainly driven by semiconductor equipment (+27.6%).
Minister Ahn Duk-geun stated, "In the first half of this year, our exports maintained last year's level despite unprecedented uncertainties in the global trade environment due to U.S. tariff measures, a slowdown in economic recovery, and the situation in the Middle East," adding that it was the result of corporations adapting to challenging export conditions through diversification of markets and products.
Minister Ahn continued, "In the second half of the year, uncertainties related to fluctuations in U.S. tariff policies and the pace of economic recovery will persist," stating that "we will respond vigorously to the Korea-U.S. tariff negotiations, while preparing export support measures, including trade financing and exploring alternative markets, to minimize the negative impact on our corporations based on the negotiation results in a timely manner."