From February 1 to 20, South Korea achieved its highest ever export total for that period, amounting to $43.5 billion, marking a 23.5% increase from the previous year, according to preliminary data from the Korea Customs Service released on the 23rd. This growth was significantly attributed to the semiconductor sector, which experienced a staggering 134% increase in exports compared to the same period last year. Semiconductors alone accounted for 34.7% of total exports, a substantial rise from 18.3% one year earlier. Other notable export increases included petroleum products and computer peripherals, while car exports saw a decline of 26.6%.

The export data revealed that key markets for South Korean goods included China, the United States, and Vietnam, with respective shares of 30.8%, 21.9%, and 17.6%. These three countries collectively represented 47.5% of total exports, indicating a continued reliance on these markets for South Korea's trade. The thriving semiconductor market is crucial for bolstering South Korea's economy, particularly as these technological products dominate global demand.

On the import side, South Korea recorded a total import value of $38.6 billion, reflecting an 11.7% increase year-on-year, with notable growth in imports of semiconductors and crude oil. Interestingly, imports from the United States saw a decrease of 3.2%, contrasting with increases from other countries, including China and Vietnam. The trade balance showed a surplus of $4.9 billion, underlining the strength of South Korea's export sector amidst a complex global trading environment.