Ministry of Trade Industry and Resources

Korea’s August ICT Exports Near $60 Billion, Reach Record High

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) announced on September 14, 2026, that Korea’s ICT exports reached USD 59.98 billion in August 2026, up 162.6 percent year-on-year from $22.84 billion. Imports rose 48.8 percent from $12.51 billion to $18.61 billion, resulting in a trade surplus of $41.37 billion. Supported by expanding AI investment worldwide, ICT exports remained above $50.0 billion for a third straight month and neared $60.0 billion, reaching a record high. The ICT trade surplus also exceeded $40.0 billion for the first time, setting an all-time record. ICT exports accounted for 61.0 percent of Korea’s total exports of $98.25 billion, surpassing 60 percent for the first time and underscoring the sector’s role as a key driver of Korea’s export growth. By product, exports increased in semiconductors (up 209.0 percent), mobile phones (up 23.2 percent), computers and peripherals (up 383.1 percent), and telecommunications equipment (up 11.5 percent), while display exports declined 7.0 percent. Semiconductor exports remained above $40.0 billion for a third straight month, supported by continued demand for AI computing. Display exports declined as lower unit prices for OLED panels used in finished products, including mobile phones, reduced OLED export value. Mobile phone exports rose as parts shipments to overseas production bases grew and stronger sales of high-value new models boosted exports of finished phones. Exports of computers and peripherals reached a record high as expanding AI data processing lifted exports of mid- to large-sized computers and parts, while growth in the enterprise SSD market boosted SSD exports. Telecommunications equipment exports rose on higher demand for telecommunications equipment parts in Vietnam, automotive equipment in India, and wireless communications equipment in Japan. By destination, exports increased in all major markets: the U.S. (up 306.5 percent), China, including Hong Kong (up 227.9 percent), India (up 126.7 percent), Vietnam (up 81.4 percent), Japan (up 72.4 percent), Taiwan (up 54.3 percent), and the EU (up 49.1 percent). ICT imports totaled $18.61 billion in August 2026, up 48.8 percent from $12.51 billion a year earlier, as imports increased in several major categories, including semiconductors (up 71.4 percent), mobile phones (up 79.4 percent), and computers and peripherals (up 39.9 percent). date2026-09-14

Korea Holds Joint Briefing to Build Exporters’ Capacity to Respond to EU CBAM

The Korean government held its 13th joint briefing of 2026 on September 2 to help exporters respond to the European Union (EU) Carbon Border Adjustment Mechanism (CBAM). CBAM is designed to prevent carbon leakage by ensuring that selected carbon-intensive imports are subject to a carbon price equivalent to that applied to goods produced in the EU.  The event took place at Yeungnam University’s Chunma Arts Center in Gyeongsan, Gyeongsangbuk-do. The Ministry of SMEs and Startups (MSS), the Ministry of Trade, Industry and Resources (MOTIR), the Ministry of Climate, Energy and Environment (MCEE), and the Korea Customs Service (KCS) jointly hosted the briefing with related organizations. With the EU CBAM fully in effect since January 2026, Korean exporters need to clearly understand and properly apply its rules in practice, including those for calculating and verifying carbon emissions. To help Korean exporters better understand CBAM and respond more effectively, the briefing consisted of two sessions: Session 1, “Understanding CBAM,” and Session 2, “Practical Case Studies.” Session 1 explained CBAM in detail, including what the definitive period requires, how companies can respond, how to calculate carbon emissions, and how to prepare for verification. Session 2 presented real-world examples of how SMEs exporting to the EU have put systems in place to respond to CBAM and improved their export performance. In addition to the joint briefing, the government is helping Korean companies respond to CBAM through other measures. In August 2026, it provided five sessions of theoretical and hands-on training, during which SME employees practiced calculating carbon emissions. Furthermore, the government is accepting applications for the SME CBAM Response Infrastructure Program until September 15, 2026, from SMEs that export CBAM-covered goods to the EU. The program helps participating companies install equipment to measure carbon emissions and provides financial assistance with verification costs. The government has also provided on-site consulting to calculate emissions for CBAM-covered products and operates a dedicated helpline for companies at 1551-3213. “2026 is a critical year for companies exporting to the EU to prepare thoroughly for the full implementation of CBAM,” said Kim Dae-hee, Director General for SME Policy at MSS. “We hope this briefing will help companies clearly understand the CBAM rules and build the systems they need to respond effectively. We will continue to actively support Korean companies in responding to CBAM.” The government will continue to monitor revisions to CBAM, including any expansion of its scope; consult with the EU on measures that could ease the burden on Korean companies; and help companies strengthen their own capacity to respond. date2026-09-03

August Exports Exceed USD 90 Billion for Third Consecutive Month

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that in August 2026, Korea’s exports rose 68.7 percent year-on-year to USD 98.25 billion. Imports increased 22.5 percent to $63.51 billion, resulting in a trade surplus of $34.75 billion. August exports maintained a strong performance exceeding $90.0 billion for the third consecutive month. Semiconductor exports rose 209 percent, while non-semiconductor exports increased 20 percent. Average daily exports, adjusted for working days, rose 72.5 percent to $4.47 billion, exceeding $4.0 billion for the fourth consecutive month. By item, exports increased in 14 of Korea’s 20 key export items. In IT, semiconductor exports rose 209.0 percent to $46.65 billion, setting an all-time record and topping $40.0 billion for the third consecutive month, supported by solid AI infrastructure demand from expanded capital expenditures (capex) by hyperscalers such as Google and Amazon. Computer exports rose 419.5 percent to $6.24 billion, posting the highest monthly export value on record as the price of NAND, a core component of enterprise SSDs, continued to rise. Wireless communication device exports increased 21.2 percent to $1.88 billion on strong sales of new products such as the Galaxy S26, Z Fold 8, and Z Flip 8, marking 10 consecutive months of growth. Automobile exports fell 29.8 percent to $3.85 billion, a temporary decline attributable to a base effect from major automakers shifting their summer holidays (from late July last year to early August this year) and to production disruptions caused by partial strikes. Ship exports also declined 45.9 percent to $1.69 billion on lower delivery volumes. Petroleum product exports rose 65.3 percent to $6.84 billion and petrochemical exports increased 12.2 percent to $3.86 billion. This double-digit growth was driven by high unit prices linked to rising oil prices amid instability in the Strait of Hormuz. However, export volumes for the two fell 2.2 percent and 7.0 percent, respectively. Meanwhile, secondary battery exports rose 24.0 percent to $0.60 billion, marking a fourth consecutive month of year-on-year growth, fueled by expanding EV orders, a revitalized ESS market, and recovering unit prices linked to rising mineral prices such as lithium. Steel exports rose 7.9 percent to $2.11 billion, marking a third straight month of year-on-year growth, as stronger shipments of flat products and other steel materials amid expanding AI data center construction in the U.S. offset lower exports to the EU following the introduction of its TRQ. General machinery exports saw marginal growth of 1.8 percent to $3.53 billion, influenced by tariff reductions on some items despite U.S. tariffs and intensifying global competition. Biohealth exports rose 22.3 percent to $1.41 billion, setting a record high for August as successful bids in Europe for biosimilar product lines led to expanded volume supplies and increased prescriptions. Cosmetics exports increased 52.1 percent to $1.31 billion, while agricultural and fisheries product exports rose 1.5 percent to $0.98 billion, both setting new August records, driven by heightened awareness of and growing preference for K-beauty and K-food. By destination, exports increased in seven of Korea’s nine major markets. Exports to China surged 119.3 percent to $24.10 billion, topping $20.0 billion for a third straight month. Strong growth in semiconductors and general machinery offset weaknesses across multiple items, including petrochemicals, wireless communication devices, and displays. Exports to the United States increased 89.3 percent to $16.50 billion, led by triple-digit growth in semiconductors and computers, along with strong performances in steel and petroleum products, while automobile exports declined due to lower production from summer holidays and increased local production in the U.S. Exports to ASEAN climbed 75.4 percent to date2026-09-01

Major Retailer Sales Up 6.4% in July 2026

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that total sales at 26 major retailers (15 brick-and-mortar retailers and 11 online retailers) rose 6.4 percent year-on-year in July 2026, with offline sales up 3.2 percent and online sales up 8.5 percent. In July 2026, hot weather and the summer holiday season increased the use of delivery services and purchases of travel products. Premium international brands remained strong, while online food purchases continued to grow. Offline sales increased at department stores (up 17.9 percent) and convenience stores (up 1.1 percent), while hypermarkets (down 11.2 percent) and SSMs (down 2.9 percent) declined. Department stores and convenience stores extended their growth streaks to 13 consecutive months since July 2025. Department store sales rose across all categories, including premium international brands, vacation-related goods, and cooling appliances, amid improved consumer sentiment and summer holiday demand. Convenience stores maintained growth as higher average purchase price offset fewer transactions (customer visits) during the hot weather. Hypermarket sales fell year-on-year for the fifth consecutive month, and SSM sales declined for the eighth consecutive month. However, the year-on-year decline in SSM food sales, the main product category for SSMs, eased from 10.6 percent in June 2026 to 2.5 percent in July 2026. Online sales rose as the services/other category (up 17.5 percent) recorded strong growth in delivery services, as well as travel and cultural products. Food sales (up 10.4 percent) and home appliance sales (up 11.4 percent) also posted strong gains as consumers purchased more groceries online and sales of cooling appliances increased. In July 2026, sales shares by channel were 60.8 percent for online retailers, 15.0 percent for convenience stores, 14.1 percent for department stores, 8.1 percent for hypermarkets, and 2.1 percent for SSMs. date2026-08-26

Korea’s Ministries and Agencies Join Forces to Address Trade Issues

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) held the 59th Trade Promotion Committee on August 26, 2026, at the Government Complex Sejong. Minister for Trade Jung Sung Park of MOTIR chaired the meeting—his first Trade Promotion Committee meeting since taking office—with officials from relevant ministries and agencies in attendance. The agenda covered recent trade issues with the United States and next steps; plans to pursue bilateral agreements with Argentina and Uruguay; and the latest discussions on the G20 trade agenda and Korea’s approach. The Committee first reviewed recent trade issues with the United States and comprehensively discussed how to respond across a range of key areas, including tariffs, non-tariff measures, and strategic investment in the United States. The ministries agreed to share information and coordinate closely so they can respond quickly as conditions change. They also agreed to mobilize the full capabilities of the government to help Korean companies export and invest without disruption. Participants then discussed plans to pursue bilateral agreements with Argentina and Uruguay. They also explored ways to build a stronger foundation for cooperation with major South American countries, where Korea’s trade network remains relatively limited. Ahead of the G20 Trade Ministerial from September 30 to October 1, 2026, Committee members shared updates on the progress of discussions on key agenda items and reviewed how Korea would address those items. “At a time of considerable uncertainty in the trade environment, it is essential that we remain steadfast in addressing trade issues” Minister Park said. “At the same time, we must diversify our trade network by building ties with new markets, including South America, and ensure that Korea’s positions are fully reflected in multilateral forums such as the G20.” He added, “To that end, I ask the relevant ministries to work from a shared understanding of the situation and draw on their capabilities to respond as one team.” Korea will continue to strengthen government-wide coordination through the Trade Promotion Committee and respond effectively to major trade issues.   date2026-08-26

Korea’s ICT Exports Reach Record $53.36 Billion for July

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Ministry of Science and ICT (MSIT, Deputy Prime Minister and Minister Bae Kyung-hoon) announced on August 14, 2026, that Korea’s ICT exports reached USD 53.36 billion in July 2026, up 140.6 percent year-on-year from $22.17 billion. Imports rose 37.3 percent from $13.33 billion to $18.30 billion, resulting in a trade surplus of $35.06 billion. Supported by expanding AI investment worldwide, ICT exports remained above $50.0 billion for a second straight month and reached a record high for July. The ICT trade surplus also remained above $30.0 billion for a third consecutive month, sustaining its upward trend. ICT exports accounted for more than half, or 54.0 percent, of Korea’s total exports of $98.89 billion for a third straight month, underscoring the sector’s role as a key pillar of Korea’s exports. By product, exports increased across all major categories: semiconductors (up 178.8 percent), displays (up 0.5 percent), mobile phones (up 62.6 percent), computers and peripherals (up 353.9 percent), and telecommunications equipment (up 18.7 percent). Semiconductor exports grew by more than 100 percent for a seventh straight month, supported by continued growth in server memory exports amid rising demand for AI inference and expanded supplies of enterprise SSDs. Higher exports of OLED panels for finished products, such as smartphones and televisions, drove growth in display exports. Mobile phone exports rose as demand for new models and increased sales of high-value products lifted shipments of finished phones. Exports of computers and peripherals increased for a ninth straight month, led by higher parts exports and growing demand for SSDs used in AI servers. Telecommunications equipment exports rose on strong shipments of wireless communications equipment to Vietnam and automotive equipment to India. By destination, exports increased in all major markets: the U.S. (up 187.0 percent), China, including Hong Kong (up 194.7 percent), the EU (up 202.0 percent), Taiwan (up 26.3 percent), Vietnam (up 115.7 percent), India (up 128.2 percent), and Japan (up 39.3 percent). ICT imports totaled $18.30 billion in July 2026, up 37.3 percent from $13.33 billion a year earlier, as imports increased in several major categories, including semiconductors (up 57.6 percent), mobile phones (up 44.7 percent), and computers and peripherals (up 31.0 percent). date2026-08-14

JD Kick-Off Summit 2026 Held in Seoul

Kang Gam-chan, Deputy Minister for International Trade and Investment at the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) delivered congratulatory remarks at JD Kick-Off Summit at KOTRA headquarters in Seoul on August 12, 2026.  Attendees included Yang Qikun, Vice Chairman of Jingdong Group (JD.com), and representatives from around 200 leading consumer goods companies. “The two recent Korea-China summits have helped create favorable conditions for Korean consumer goods to enter China’s domestic market,” Deputy Minister Kang said. “We will actively support Korean companies to facilitate their entry through major platforms such as JD.com.” date2026-08-12

JD.com, China’s Largest E-Commerce Platform, Steps Up Imports of Korean Consumer Goods

Jingdong Group (JD.com, Chairman: Liu Qiangdong), China’s largest e-commerce platform, has established a dedicated purchasing subsidiary in Korea and is stepping up imports of Korean products. The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Korea Trade-Investment Promotion Agency (KOTRA, CEO and President Kang Kyung Sung) jointly hosted the JD Kick-Off Summit 2026 with JD.com at KOTRA headquarters in Seoul on August 12, 2026. The event featured a supplier briefing on direct purchasing and business consultations.  Korea’s consumer goods exports to China peaked at approximately USD 9.3 billion in 2021 before declining throughout the COVID-19 pandemic. In the first half of this year, however, exports rose 8.7 percent year on year, supported by cooperation with local distribution networks and broader access to inland markets. To sustain this growth, the government is focusing on direct purchasing as an export model. Under this model, an overseas platform imports and distributes products locally without an intermediary. For exporters, it offers higher margins and more reliable payment. For overseas retailers, it reduces the risk of counterfeit products and unauthorized distribution. Yang Qikun, Vice Chairman of JD.com Group, visited Korea following the subsidiary’s establishment. “As the Korean Wave continues worldwide, demand for K-beauty products and Korean food is expected to grow,” he said. “We will continue to expand our direct purchases of Korean products.” Around 200 Korean consumer goods companies attended the event, where they learned about JD.com’s business model and held one-on-one business consultations with JD.com buyers. A signing ceremony was also held for an export contract worth USD 1.5 million. At the ceremony, a representative of Company A said the contract enabled the company to export to China without having to manage logistics or payment collection, adding that it would focus on producing quality products to further expand its customer base in China. Kang Gam-chan, Deputy Minister for International Trade and Investment at MOTIR, noted that the two recent Korea-China summits had helped create favorable conditions for Korean consumer goods to enter China’s domestic market. “We will actively support Korean companies to facilitate their entry into the Chinese market through major platforms such as JD.com,” he said. date2026-08-12

July 2026 Exports Reach $98.89 Billion, Second-Highest on Record

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that in July 2026, Korea’s exports rose 62.8 percent year-on-year to USD 98.89 billion. Imports increased 26.5 percent to $68.56 billion, resulting in a trade surplus of $30.32 billion. Exports also set a July record, the 14th consecutive month in which exports have reached an all-time high for that calendar month. Semiconductor exports rose 179 percent, while non-semiconductor exports increased 26 percent. Average daily exports, adjusted for working days, rose 69.6 percent to $4.12 billion, exceeding $4.0 billion for the third consecutive month. By item, 19 of Korea's 20 key export items posted growth. In IT, all four items recorded growth. Semiconductor exports rose 178.8 percent to $41.01 billion, topping $40.0 billion for the second consecutive month. Computer exports rose 404.0 percent to $4.79 billion, led by enterprise SSDs. Wireless communication device exports increased 51.0 percent to $1.81 billion on strong sales of premium models, while display exports rose 2.4 percent to $1.61 billion. Automobile exports rose 7.0 percent to $6.24 billion, supported by strong sales of eco-friendly vehicles and a favorable base effect. Ship exports increased 46.9 percent to $3.29 billion on higher exports of LNG carriers and tankers, posting a sixth consecutive month of growth. Petroleum product exports rose 34.1 percent to $5.68 billion as export prices increased, although export volumes fell 8.8 percent. Petrochemical exports increased 10.3 percent to $4.18 billion on higher export unit prices, while export volumes declined 9.1 percent. Steel exports rose 4.4 percent to $2.36 billion, marking a second consecutive month of growth. General machinery exports increased 5.9 percent to $4.53 billion, led by manufacturing equipment and machinery components. Electric machinery exports rose 13.9 percent to $1.79 billion, setting a record high for July. Among consumer goods, biohealth exports rose 30.4 percent to $1.57 billion, setting a record high for July. Cosmetics exports increased 37.8 percent to $1.35 billion, while agricultural and fisheries products exports rose 2.3 percent to $1.09 billion, led by instant noodles, snacks, and kimchi. Both categories set record highs for July. Household goods exports also rose 14.2 percent to $0.82 billion. By destination, exports increased in eight of Korea’s nine major markets. Exports to China rose 96.2 percent to $21.68 billion, exceeding $20.0 billion for the second consecutive month and marking nine consecutive months of growth since November 2025. Exports to the United States increased 68.7 percent to $17.43 billion, led by semiconductors, computers, electric machinery, and steel, while automobile exports remained weak. Exports to ASEAN rose 73.7 percent to $18.80 billion, setting an all-time monthly record, with strong growth in semiconductors, displays, and ships. Exports to the EU increased 55.7 percent to $9.38 billion, also setting an all-time monthly record. Exports to the Middle East rose 24.7 percent to $1.83 billion, marking the first increase since January. Imports rose 26.5 percent to $68.56 billion. Energy imports increased 50.1 percent to $14.48 billion, while non-energy imports rose 21.4 percent to $54.08 billion. Crude oil import volumes rose 7 percent and import prices climbed 44 percent, lifting crude oil imports by value 54.2 percent to $9.3 billion. Among non-energy imports, imports of semiconductor equipment rose 55.4 percent to $2.54 billion, while imports of petrochemicals increased 9.4 percent to $1.15 billion. The trade surplus reached $30.32 billion, up $23.81 billion from a year earlier and exceeding $30.0 billion for the second consecutive month. The cumulative trade surplus from January to July reached $168.0 billion, up $134.1 billion from the same period last year. MOTIR Minister JK (Jung-Kwan) Kim said, “July e date2026-08-03

Major Retailer Sales Up 7.3% in First Half of 2026 and 9.5% in June 2026

2026 First Half Retailer Sales The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that total sales at 26 major retailers (15 brick-and-mortar retailers and 11 online retailers) in the first half of 2026 rose 7.3 percent year-on-year, with offline sales up 6.2 percent and online sales up 8.1 percent. The first half of 2026 saw department store sales surge on improved consumer sentiment and higher sales to foreign tourists. Convenience store sales returned to growth and online sales rose steadily, while hypermarkets and super supermarkets (SSMs) remained weak. Online sales rose 8.1 percent as consumers purchased more food online, further establishing online retail as a grocery-shopping channel. This was somewhat slower than the 14.4 percent strong growth recorded in the first half of 2025, reflecting the high comparison base.  Offline sales rose 6.2 percent, driven by gains at department stores (up 20.1 percent) and convenience stores (up 3.7 percent). In contrast, hypermarkets (down 7.3 percent) and SSMs (down 6.6 percent) remained weak. Department stores, which have been transforming into experiential retail spaces, saw sales growth surge from 0.5 percent in the first half of 2025 to 20.1 percent in the first half of 2026, as consumer sentiment improved and sales to foreign tourists increased. Convenience store sales returned to growth, rising 3.7 percent after falling 1.0 percent in the first half of 2025. The rebound was supported by the resulting base effect and the early onset of hot weather. The number of transactions also rose steadily from February 2026, indicating more frequent consumer visits. Weak sales in food, the core category for hypermarkets and SSMs, continued to weigh on both channels. Hypermarkets consequently posted their ninth consecutive quarterly decline, a streak dating to the second quarter of 2024, while SSMs recorded their fourth, dating to the third quarter of 2025. Nevertheless, the gap between offline and online sales growth narrowed, supported by the base effect from a 0.5 percent decline in the first half of 2025 and strong department store sales. Improving consumer sentiment drove broad-based growth across all product categories, including home appliances and cultural goods (up 9.7 percent), fashion and accessories (up 8.2 percent), household goods (up 6.3 percent), and food (up 5.0 percent). Premium international brands posted particularly strong growth of 30.8 percent. In the food category, online sales rose 11.0 percent, while offline sales fell 0.5 percent.   2026 June Retailer Sales In June 2026, total sales at the 26 major retailers rose 9.5 percent year-on-year, with offline sales up 6.4 percent and online sales up 11.7 percent. Sales at department stores and convenience stores rose 22.2 percent and 5.1 percent, respectively, marking the twelfth consecutive month of growth for both channels since July 2025. Hypermarket and SSM sales remained weak, falling 10.5 percent and 10.8 percent. Sales of home appliances and cultural goods surged 31.1 percent, while sales of premium international brands climbed 34.3 percent. Food sales rose 4.8 percent overall, with online sales up 11.2 percent and offline sales down 1.1 percent. Sales shares by channel were 60.4 percent for online retailers, 15.2 percent for department stores, 15.0 percent for convenience stores, 7.5 percent for hypermarkets, and 1.9 percent for SSMs.   date2026-07-29