Seoul: South Korea's exports surged by 52.3 percent in the first 20 days of July compared to the same period last year, driven by a significant increase in semiconductor shipments amid the ongoing artificial intelligence (AI) boom, according to customs data released on Tuesday.

According to Yonhap News Agency, outbound shipments during the July 1-20 period reached US$54.9 billion, up from $36 billion in the same timeframe last year, as reported by the Korea Customs Service. Imports also saw a rise, increasing by 20 percent on-year to $42.7 billion, culminating in a trade surplus of $12.2 billion for the period.

Semiconductors played a pivotal role in this export growth, with shipments skyrocketing by 180 percent to reach US$22.1 billion. In contrast, exports in the automobile sector decreased by 10.6 percent, totaling $3.24 billion. Meanwhile, petroleum product exports increased by 33.4 percent to $3.41 billion. Steel products and ships also saw export growth, rising by 11.1 percent and 70.8 percent, respectively, to $2.64 billion and $2.44 billion.

By destination, exports to China nearly doubled, amounting to $13.3 billion, while exports to the United States rose by 39.6 percent, reaching $8.96 billion. Cumulatively, South Korea's exports up to Monday this year have totaled $551.2 billion, marking a 48.7 percent increase from the previous year.