RESEARCH NOTES
Exports Hit $98.3 Billion with Semiconductors Accounting for 48%: Three Signals Hidden Behind Record Highs
South Korea's exports in August 2026 reached $98.25 billion, up 68.7% year-on-year. Semiconductor exports stood at $46.65 billion, representing 47.5% of the total, with chips accounting for approximately 78.9% of the total export increase. While non-semiconductor exports also rose by 20%, automobiles and ships declined, and petroleum products and petrochemicals saw export values increase driven by rising unit prices despite dropping volumes. Cumulative exports surpassed last year's annual total as of September 5, but reaching the $1.0 trillion annual mark remains in the realm of projections. Businesses should examine their own propagation pathways—ranging from prices, volumes, and customers to cash collection—rather than focusing solely on total export figures.

Exports at $98.3 Billion, Nearly Half in Semiconductors… What Businesses Should Look at Before Total Figures 47.5% of August exports came from semiconductors, while non-semiconductor exports also rose 20%: Reading South Korea's export structure through differences in prices, volumes, and markets According to the 'August 2026 Import and Export Trends' released by the Ministry of Trade, Industry and Energy (MOTIE) on September 1, South Korea's exports recorded $98.25 billion, up 68.7% from the same month last year, surpassing $90 billion for three consecutive months following June and July. Imports for the same month stood at $63.51 billion, resulting in a trade surplus of $34.75 billion. The aggregate figures announced separately by MOTIE and the Korea Customs Service are based on the same customs clearance data, and as they are preliminary figures based on customs clearance up to August…
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