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Dec. 29 (Asia Today) — South Korea’s annual exports surpassed $700 billion for the first time on Monday, reaching the milestone seven years after the country first topped $600 billion in 2018, according to the Ministry of Trade, Industry and Energy and the Korea Customs Service.
The ministry said cumulative exports exceeded $700 billion at 1:03 p.m. Monday. With the new level, South Korea became the sixth country to record annual exports above $700 billion, after the United States, Germany, China, Japan and the Netherlands, according to local media reports citing government data.
The government described the milestone as “qualitative growth” achieved despite a tougher trade environment that included U.S. tariffs and wider protectionist policies. It said steady exports also helped support domestic growth and jobs during a period of weak local demand.
Officials said semiconductors continued to lead export gains, with automobiles and ships also among the main drivers. The government also pointed to growing shipments of consumer-facing products such as food and beauty items as additional sources of momentum.
The ministry said exporters widened their market footprint as trade friction intensified between the United States and China, with shipments expanding to regions including Southeast Asia, the European Union and Latin America. It also said small and medium-sized exporters posted record highs this year in both export value and the number of exporting firms, broadening the export base.
Alongside the export milestone, the government said inbound foreign direct investment exceeded $35 billion this year, topping the prior annual record of $34.57 billion set in 2024.
The government said it aims to sustain the trend next year through manufacturing innovation, further market and product diversification and expanded trade support, while also boosting incentives for foreign investment tied to regional development.
— Reported by Asia Today; translated by UPI
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