Seoul: South Korea's exports rose by 4.3 percent in June, reaching a total of US$59.8 billion, driven by strong global demand for semiconductors, according to government data released Tuesday. This growth marks a significant recovery from a 1.3 percent decline in May, setting a new record for June exports.

According to Yonhap News Agency, the Ministry of Trade, Industry and Energy highlighted the significant role of semiconductors and automobiles in this export growth. Outbound shipments of semiconductors alone soared by 11.6 percent year-on-year to a record US$14.97 billion in June, fueled by demand for high-value products such as high-bandwidth memory (HBM) chips and DDR5. Auto exports also saw a rise, increasing by 2.3 percent to US$6.3 billion, driven by robust electric vehicle (EV) demand in Europe.

Other sectors contributing to the export surge include computers, with shipments rising by 15.2 percent to US$1.33 billion, and biohealth products, which surged by 36.5 percent to US$1.66 billion. Ship exports experienced a significant increase, jumping 63.4 percent to US$2.5 billion, marking the fourth consecutive month of growth. Additionally, exports of agro-fisheries products and cosmetics saw increases of 7.7 percent and 22 percent, respectively.

However, not all sectors experienced growth. Shipments of petroleum and petrochemical products decreased by 2 percent and 15.5 percent, respectively, to US$3.62 billion and US$3.36 billion.

Regional export performance varied, with shipments to the United States slightly declining by 0.5 percent to US$11.24 billion, and exports to China dropping by 2.7 percent to US$10.42 billion. In contrast, exports to the Association of Southeast Asian Nations (ASEAN) increased by 2.1 percent to US$9.76 billion, while shipments to the European Union expanded by 14.7 percent to US$5.8 billion. Exports to Taiwan, a major market for chips, surged by 31 percent to US$4.34 billion, setting a new record for June. Additional growth was observed in shipments to India, Japan, and the Middle East, with increases of 2.3 percent, 3 percent, and 14.8 percent, respectively.