AI Boom Drives South Korea's Chip Exports to Record High in July

Driven by the global AI and data center boom, South Korea's chip exports surged by 180.6% year-on-year during the first 20 days of July. This growth pushed the country's overall exports, adjusted for working days, up by 62.9%, setting a new record for this period. This surge highlights the massive impact of the AI infrastructure buildout on the global semiconductor supply chain, positioning South Korea as a primary beneficiary. It also signals robust global demand for high-performance memory and hardware essential for training and running AI models. While chip and computer-related exports grew by 180.6% and nearly 232% respectively, automobile exports experienced a decline of 10.6%. On an unadjusted basis, South Korea's overall exports grew by 52.3% and imports rose by 20%, resulting in a trade surplus of $12.2 billion.