South Korea's export industry has been bolstered by the stellar performance of its semiconductor sector, which has seen a significant YoY increase of 50.4% in July, contributing to the country's total export value of $11.2 billion. This impressive growth has been sustained for the ninth month in a row, with the rate of increase remaining above 50% for the past four months.

In addition to semiconductors, other tech-related exports have also seen positive growth. Shipments of display products increased by 2.4% YoY, while exports of computers and mobile devices surged by 61.6% and 53.6% respectively.

Geographically, exports to China, driven by strong demand in semiconductors and mobile devices, rose by 14.9% to $11.4 billion, the highest since October 2022 when it reached $12.2 billion. Exports to the United States also showed a healthy YoY increase of 9.3%, amounting to $10.2 billion, setting a new record for the month of July.

This consistent growth in semiconductor exports highlights South Korea's competitive edge in the global market and underscores the importance of the technology sector to the country's economy. The trade figures reported by the Ministry of Trade, Industry, and Energy reflect a positive trend that is expected to continue as global demand for semiconductors remains high.