South Korea’s Exports Hit Record US$709.4 Billion, Eye US$1 Trillion Milestone

South Korea’s cumulative exports this year reached US$709.4 billion as of Saturday, surpassing the previous annual record of US$709.3 billion set last year, according to the Ministry of Trade, Industry and Resources and the Korea Customs Service.

If the current strong export momentum continues, South Korea could reach US$1 trillion in annual exports by early December, according to a report by the head of the Korea Customs Service, which was cited by the South Korean president on social media on Saturday.

Despite challenging external conditions, including ongoing hostilities in the Middle East, the country’s exports have maintained their growth trajectory, driven largely by strong demand for semiconductors, the report said.