In 2022, South Korea's exports reached an unprecedented $709.4 billion, marking the first time annual exports exceeded $700 billion, with the top 10 companies generating 40% of this total. The semiconductor sector played a crucial role, with semiconductor exports seeing a substantial growth of 22.1%, bringing in $173.45 billion and contributing 24.5% to the overall exports. However, other sectors such as automotive, steel, and machinery faced sharp declines, highlighting a 'K-shaped recovery' in the country's export landscape.

Despite the overall export growth, several industries struggled significantly. For instance, steel exports fell 7.5% to $26.18 billion, impacted by competition from low-cost Chinese products, while petrochemicals decreased by 6.7% to $28.53 billion due to global oversupply and weak demand. The machinery sector and automotive exports also contracted substantially, showcasing a concerning trend where only semiconductor exports thrived in stark contrast to the downward trajectory of other manufacturing segments.

This uneven growth has led to a heightened concentration in trade, with the top 10 companies responsible for 39% of total exports, the highest concentration recorded since the statistics began in 2010. Data analysis suggests that the heavy reliance on the semiconductor sector might create vulnerabilities in the long term if other industries do not recover, especially with external factors such as global competition and domestic policies impacting the automotive sector's performance.