Korea's exports topped $700 billion for the first time last year, setting an all-time record. Semiconductor exports hit a record high and drove overall export growth. Korea became the sixth country in the world to achieve $700 billion in annual exports.

The sun, veiled by clouds, emerges over Bi-eung Port in Gunsan, North Jeolla Province, on the 1st, the first day of the Year of Byeongo in 2026. /Courtesy of News1

According to the "provisional trade statistics for December 2025 and the year" released on the 1st by the Ministry of Trade, Industry and Resources and the Korea Customs Service, last year's exports rose 3.8% from a year earlier to $709.7 billion. They surpassed the previous all-time high set in 2024.

Imports last year fell 0.02% from a year earlier to $631.7 billion. As a result, Korea's trade balance recorded a surplus of $78 billion last year. It was the largest surplus since 2017 ($95.2 billion).

Exports and imports by year. Unit: hundred million dollars. /Courtesy of Ministry of Trade, Industry and Energy

Semiconductors, Korea's top export item, led the gains. Annual semiconductor exports rose 22.2% to $173.4 billion, an all-time record. The increase was supported by demand from artificial intelligence (AI) data centers. From Apr. to Dec., contract prices for memory chips set a record high for nine consecutive months on a monthly basis.

Growth in automobile exports, the No. 2 export item, also supported the gains. Automobile exports rose 1.7% to $72 billion, also a record. Ship exports rose 24.9% to $32 billion. Beyond the 15 key items, there were strong performances in exports of agricultural, fisheries and food products and cosmetics.

Exports to major destinations China and the United States fell 1.7% and 3.8%, respectively. By contrast, the share of exports to ASEAN, Latin America, and the Commonwealth of Independent States (CIS) increased.

Export containers stack up at Pyeongtaek Port in Poseung-eup, Pyeongtaek, Gyeonggi Province. /Courtesy of News1

Exports in December rose 13.4% to $69.57 billion, the highest monthly total on record. Monthly exports have increased for 11 straight months since the growth rate turned positive in Feb. last year.

Imports in the same month rose 4.6% to $57.4 billion. The monthly trade balance posted a surplus of $12.18 billion, marking a surplus for 20 consecutive months.

Minister Kim Jung-kwan of the Ministry of Trade and Industry (MOTI) said, "I express my deep respect for the devoted sweat and passion of our businesspeople and workers who overcame countless adversities last year and opened the era of $700 billion in exports," adding, "The export environment this year will not be easy, but we will accelerate industrial innovation, led by the M.AX (manufacturing AI transition) strategy, to maintain the upward trend in exports."

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