Lee touts record-high exports after surpassing 2025 annual record

President Lee Jae Myung reported on Saturday that South Korea's cumulative exports for the year had already surpassed the previous annual record, according to a customs chief's assessment shared on social media. The exports totaled US$709.4 billion by 1 p.m. Saturday, surpassing the prior record of $709.3 billion set in 2025. Despite challenges such as increasing protectionism, supply chain restructuring, and regional tensions, exports continued to grow robustly, the agency chief stated.

If this trend persists, annual exports are projected to reach $1 trillion around early December, the report noted. The United States, China, and Germany have already achieved annual exports exceeding $1 trillion. Semiconductors alone saw a 169.6 percent increase year-over-year, while exports of computer peripherals, petroleum, wireless devices, and ships also demonstrated significant growth.

The Bank of Korea has revised its 2026 growth forecast for South Korea upward to 3.3 percent, attributing the surge to strong chip exports powered by sustained demand for artificial intelligence infrastructure.