Ministry of Trade Industry and Resources

June 2026 Export and Import Trends

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Korea’s exports in June 2026 rose 70.9 percent year-on-year to USD 102.25 billion. Imports increased 30.1 percent to $66.10 billion, resulting in a trade surplus of $36.15 billion.

Monthly exports topped $100.0 billion for the first time, making Korea the fourth country in the world, after Germany, China, and the United States, to exceed $100.0 billion in monthly exports. Semiconductor exports rose 200 percent, while non-semiconductor exports increased 28 percent. Average daily exports, adjusted for working days, rose 59.5 percent to $4.54 billion, setting a new record for the second consecutive month.

By item, exports increased in 18 of Korea’s 20 key export items. In IT, computer exports reached $5.41 billion, up 308.8 percent, on higher SSD demand, while semiconductor exports rose 199.5 percent to $44.82 billion, topping $40.0 billion for the first time on strong memory demand and higher memory contract prices. Wireless communication device exports increased 51.9 percent to $1.55 billion. In mobility, automobiles rose 5.8 percent to $6.71 billion and ships increased 12.9 percent to $2.83 billion, while auto parts fell 2.4 percent to $1.74 billion.

Petroleum products exports rose 49.8 percent to $5.59 billion on higher export prices, despite a decline in export volume, and petrochemicals increased 18.8 percent to $4.07 billion. Steel exports rose 9.6 percent to $2.14 billion, turning positive for the first time in 14 months since April 2025, as exports of construction materials such as rebar increased alongside a rise in data center construction. Nonferrous metals exports rose 45.8 percent to $1.82 billion, setting a record high for June, as both the unit prices and volumes of mainstay items such as copper and aluminum increased. General machinery exports rose 7.5 percent to $4.08 billion, turning positive for the first time in five months, helped by an increase in working days from a year earlier and U.S. tariff cuts on some industrial machinery.

Biohealth exports rose 14.1 percent to $1.92 billion, setting a record high for June, driven by expanded market share based on competitiveness in biosimilar manufacturing and an increase in contract manufacturing organization (CMO) orders. Cosmetics exports rose 42.5 percent to $1.34 billion, continuing their growth on the back of the global spread of K-beauty's recognition and rising overseas demand, while agricultural and fisheries products exports rose 16.8 percent to $1.17 billion, posting a high double-digit growth rate on the back of expanded overseas demand centered on processed foods such as ramen and gim (seasoned laver).

By destination, exports increased in seven of Korea’s nine major markets. Exports to China ($20.03 billion, up 92.1 percent) marked eight consecutive months of growth, as semiconductors — the top export item — more than tripled, while mainstay items such as petrochemicals, general machinery, and wireless communication devices also performed evenly well. Exports to the United States increased 78.6 percent to $20.02 billion, as IT items such as semiconductors, computers, and electric machinery posted high growth on expanded AI server investment, while consumer goods such as cosmetics and agricultural and fisheries products also grew strongly on the spread of the Korean Wave (Hallyu).
 
Exports to ASEAN ($18.30 billion, up 86.6 percent) set an all-time monthly record for the fifth consecutive month, as mainstay items such as semiconductors, petroleum products, and displays posted high growth rates, while exports to the EU ($7.62 billion, up 31.8 percent) set a record high for June, as items including ships, semiconductors, automobiles, and biohealth products all grew evenly.

Exports to the Middle East ($1.80 billion, down 8.4 percent) continued to decline overall, as items such as automobiles and petrochemicals showed a recovery, but general machinery, auto parts, and steel remained sluggish. Imports rose 30.1 percent to $66.10 billion. Energy imports increased 45.1 percent to $12.51 billion, while non-energy imports rose 27.0 percent to $53.59 billion. Crude oil import volume fell 10 percent year-on-year but rose month-on-month, from 69.8 million barrels in May to 73.1 million barrels in June. By value, crude oil imports rose 50.4 percent to $8.6 billion due to higher import prices. Among non-energy imports, nonferrous metals rose 59.9 percent to $2.89 billion, and semiconductor equipment increased 41.3 percent to $2.71 billion.

The trade surplus reached $36.15 billion, up $27.14 billion from a year earlier, exceeding $30.0 billion for the first time. The cumulative trade surplus from January to June reached $138.3 billion, up $110.9 billion from the same period last year.

Export and Import Trends for the First Half of 2026

Exports in the first half of 2026 rose 48.4 percent year-on-year to $496.7 billion, the highest first-half figure on record. Semiconductor exports increased 163 percent, while non-semiconductor exports rose 16 percent. Average daily exports, adjusted for working days, increased 46.2 percent to $3.75 billion. Imports rose 16.6 percent to $358.4 billion, and the trade balance posted a surplus of $138.3 billion, improving by $110.9 billion from a year earlier.

By item, exports increased in 14 of Korea’s 20 major export items. Semiconductor exports rose 162.6 percent to $192.4 billion, surpassing the previous annual record of $173.4 billion set in 2025 in the first half alone, supported by higher memory contract prices. Computers also reached $21.2 billion, up 262 percent, exceeding the previous annual record of $17.1 billion set in 2004. Automobile exports edged down 1.1 percent to $35.9 billion as logistics disruptions, U.S. tariff measures, expanded local production, and a decline in used car exports offset strong hybrid and electric vehicle exports.

Petroleum products increased 39.6 percent to $30.1 billion, and petrochemicals rose 5.2 percent to $22.8 billion. Although volumes declined, export values increased as export prices rose in line with oil prices. In consumer goods, cosmetics reached $7.0 billion, up 27.2 percent, and agricultural and fisheries products rose 8.7 percent to $6.6 billion, with both setting record highs for the first half.

By destination, exports increased in seven of Korea’s nine major markets. Exports to China rose 64.6 percent to $99.6 billion, led by strong semiconductor exports. Exports to the United States increased 50.5 percent to $93.5 billion as IT exports grew, despite lower exports of automobiles and general machinery. Exports to ASEAN rose 53.2 percent to $88.3 billion, and exports to the EU increased 13.3 percent to $39.5 billion, with both reaching record highs for the first half. Exports to the Middle East fell 13.9 percent to $8.5 billion as major items, including automobiles, declined.

Energy imports increased 6.6 percent to $63.5 billion due to higher oil prices, while non-energy imports rose 19.1 percent to $294.9 billion, led by semiconductor equipment, up 43.3 percent, and petroleum products, up 6.1 percent.

Assessment and Policy Direction

MOTIR Minister JK Kim said, “Export conditions remained challenging in the first half of this year as U.S. tariff measures continued, the conflict in the Middle East created logistics and energy instability, and the spread of protectionism added to external uncertainty.” 

“Even under these conditions, Korea’s exports reached a record high for the first half, supported by strong semiconductor exports on expanded AI server investment, steady performance in mainstay exports such as ships, petroleum products, and wireless communication devices, and continued growth in promising consumer goods such as cosmetics and agricultural and fisheries products,” he said.

Minister Kim added, “Uncertainty is expected to persist in the second half, with U.S. tariff measures, oil price volatility, and a possible slowdown in the global economy remaining as key risks. The government will continue to consult closely with major economies to reduce uncertainty facing Korean companies and help create a favorable export environment.”

“The government will also support qualitative growth, not just higher export volumes, by diversifying export items and markets and strengthening SMEs’ export competitiveness, to help Korea become one of the world’s top five exporting countries,” he said.