South Korea recorded its highest level of exports for the month of January, driven by the global boom in artificial intelligence which depends on semiconductors manufactured in the country, according to official figures released on Sunday.
January exports reached $65.8 billionan increase of 33.9% year-on-year, the Ministry of Commerce indicated in a statement.
South Korea is home to the world’s leading manufacturers of semiconductors, crucial for AI infrastructure.
Tech giants Samsung and SK hynix posted record operating profits between October and December.
“Semiconductor exports reached $20.5 billion, an increase of 102.7%,” the ministry said.
That level has only been surpassed by semiconductor exports in December, when they reached $20.8 billion.
The country is also an important vehicle exporter.
The figure was released at a time when South Korea is trying to respond to US President Donald Trump’s announcement to increase tariffs on products from the Asian country from 15% to 25%, by accusing the South Korean Parliament of not ratifying their bilateral trade agreement.
The two countries reached a trade agreement in October in which Seoul committed to investing in the United States in exchange for a cut in tariffs.
The South Korean presidency has said that the agreement does not require legislative approval because it is a memorandum of understanding, not a legally binding document.
