South Korea Exports Jump 62.8% in July Driven by AI Investments and Semiconductor Demand

South Korea July exports beat forecasts on robust demand for AI investments

SEOUL, Aug 1 (Reuters) - South Korea's exports grew more strongly than expected in July on global chip and computer demand for AI investments. Exports from Asia's fourth-largest economy rose 62.8% in July from a year earlier to $98.89 billion, preliminary trade data showed on Saturday, beating a median 59.0% increase tipped in a Reuters poll of economists. It was weaker than the 70.7% surge in June, which was the largest since 1978, but it was still ⁠the second-strongest annual growth rate in a streak that started in June 2025. Semiconductor exports jumped 179% as memory chip prices continued to rise despite the issues of Apple's potential use of Chinese memory chips and a new AI development in China, the trade ministry said in a statement. Computer sales also surged 404% on increasing AI investments by big U.S. technology firms, the ministry said. Last month, the country's stock benchmark KOSPI (.KS11), opens new tab tumbled 22%, the biggest drop since 2008 and a sharp selloff on AI-related worries. The index posted a record rally on Friday, ⁠however, on a fresh surge of investment into global semiconductor stocks. Earlier this week, chipmaker Samsung Electronics (005930.KS), opens new tab reported a more than 250-fold jump in chip profit and announced multi-year supply deals with major data centre operators, saying it expects global chip shortages to become more acute and extend into 2028. That came a ⁠day after peer chipmaker SK Hynix (000660.KS), opens new tab reported bumper quarterly results but fell short of lofty investor expectations, heightening market concerns about slower AI spending by big tech firms. By destination, exports to China in July rose ⁠96%, while those to the U.S. gained 69%. Shipments to the Middle East increased 25%, after five consecutive months of declines amid the Iran war. Imports rose 26.5% to $68.56 billion ⁠in July, after rising 30.0% in June. That was roughly in line with the 26.6% forecast by economists. The country posted a monthly trade surplus of $30.32 billion, after posting a record surplus of $36.09 billion the previous month. Reporting by Jihoon Lee; Editing by Tom Hogue Our Standards: The Thomson Reuters Trust Principles., opens new tab

South Korea July exports beat forecasts on robust demand for AI investments

Semiconductor exports jumped 179% as memory chip prices continued to rise despite the issues of Apple's potential use of ⁠Chinese memory chips and a new AI development in China, the trade ministry said in a statement. Computer sales also surged 404% on increasing AI ⁠investments by big U.S. technology firms, the ministry said. South Korea's exports grew more strongly than expected in July on global chip and computer demand for AI investments. Exports from Asia's fourth-largest economy rose 62.8% in July from a year earlier ⁠to $98.89 ⁠billion, preliminary trade data showed on Saturday, beating a median 59.0% increase tipped in a Reuters poll of economists. It was weaker than the 70.7% surge in June, which was the largest since 1978, but it was still the second-strongest annual growth rate in a streak that started in June 2025. Semiconductor exports jumped 179% as memory chip prices continued to rise despite the issues of Apple's potential use of ⁠Chinese memory chips and a new AI development in China, the trade ministry said in a statement. Computer sales also surged 404% on increasing AI ⁠investments by big U.S. technology firms, the ministry said. Last month, the country's stock benchmark KOSPI tumbled 22%, the biggest drop since 2008 and a sharp selloff on AI-related worries. The index posted a record rally on Friday, however, on a fresh surge of investment into global semiconductor stocks. Earlier this week, chipmaker Samsung Electronics reported a more than 250-fold jump in chip profit and announced multi-year supply deals with major data centre operators, saying it expects global chip shortages to become more acute and extend into 2028. That came a day after peer chipmaker SK Hynix reported bumper quarterly results but fell short of lofty investor ⁠expectations, heightening market concerns about slower AI spending by big tech firms. By destination, exports to China in July rose 96%, while those to the U.S. gained 69%. Shipments to the Middle East increased 25%, after five consecutive months of declines amid the Iran war. Imports rose 26.5% to $68.56 billion in July, after rising 30.0% in June. That was roughly in line with the 26.6% forecast by economists. The country posted a monthly trade surplus of $30.32 billion, after posting a record surplus of $36.09 billion the previous month.

South Korea exports beat forecasts in July on AI chip demand By Investing.com

Investing.com -- South Korean exports grew faster than expected in July, supported by strong global demand for semiconductors and computers used in artificial intelligence infrastructure, preliminary trade data showed on Saturday. Exports rose 62.8% from a year earlier to $98.89 billion, exceeding the 59.0% increase forecast in a Reuters poll of economists. The expansion slowed from a 70.7% surge in June, which was the strongest annual increase since 1978. July still recorded the second-fastest growth rate during the export expansion that began in June 2025. Semiconductor exports jumped 179% as memory-chip prices continued to rise, according to South Korea's trade ministry. The growth came amid uncertainty surrounding Apple's potential use of Chinese memory chips and the emergence of new AI technology in China. Computer exports climbed 404%, driven by increased AI investment from large U.S. technology companies. Samsung Electronics (KS:005930) recently reported a more than 250-fold increase in quarterly chip profit and announced multiyear supply agreements with major data-centre operators. The company expects global semiconductor shortages to intensify and continue into 2028. SK Hynix (KS:000660) also reported strong quarterly earnings, though its results fell short of elevated investor expectations and added to concerns about a possible slowdown in AI spending. South Korea's benchmark KOSPI fell 22% in July, its largest monthly decline since 2008, amid a sell-off in AI-related shares. The index staged a record rally on Friday as investment returned to global semiconductor stocks. Exports to China rose 96% in July, while shipments to the U.S. increased 69%. Exports to the Middle East gained 25% following five consecutive monthly declines amid the Iran war. Imports rose 26.5% to $68.56 billion, close to economists' forecast of 26.6%. South Korea recorded a trade surplus of $30.32 billion, down from a record $36.09 billion in June.