Seoul: Trade Minister Yeo Han-koo has committed to making every effort to maintain South Korea's annual exports above the US$700 billion threshold for a second consecutive year in 2026, despite facing global trade uncertainties, as announced by Yeo's office.

According to Yonhap News Agency, Yeo highlighted that in 2025, South Korea's exports exceeded the $700 billion milestone for the first time, defying an initially pessimistic forecast at the year's start. This statement was made during a meeting aimed at evaluating risks and opportunities related to exports in 2026, as reported by the Ministry of Trade, Industry and Resources.

The previous year saw South Korea's exports reach a record high of $709.7 billion, driven by strong performances in key sectors such as semiconductors, automobiles, and ships, along with growth in smaller industries like agro-fisheries and cosmetics. Yeo credited this achievement to the restored confidence in the Korean market following President Lee Jae Myung's administration launch and the bilateral trade agreement between Seoul and Washington. He pledged ongoing efforts to further boost exports.

To counteract trade protectionist policies from major economies, including the European Union's enhanced steel safeguard measures, the government plans to diversify export items and destinations. Additionally, the ministry stated that there would be upgrades in infrastructure and financial support for export firms.