Business · Trade · 4 hrs ago
South Korea leads China’s import market for six months as exports surge
South Korea led China’s import market for six straight months, from April through September, after ranking second in the first three months of the year.
In the first nine months, China imported $236.2 billion in goods from South Korea, up 75.1% from a year earlier.
Semiconductors drove much of the increase: South Korea exported $105.4 billion in chips to China, up 221.5%.
South Korea also rose from ninth to sixth among suppliers to the US, with US imports of Korean goods up 35.2% in the first nine months.
The export boom pushed South Korea’s trade surplus to a record $294.9 billion through October, and its trade balance with China returned to surplus.
South Korea could reach $1 trillion in exports around November 19–20, based on its pace so far this month.
The strong results rely heavily on semiconductors, and an industry expert urged South Korea to broaden exports to sustain growth.
South Korea ranked first in China’s import market for six consecutive months, from April through September, as exports surged.
China imported $236.2 billion in goods from South Korea in January–September, up 75.1% from a year earlier.
Semiconductors drove much of the growth, with South Korea’s semiconductor exports to China rising 221.5% year on year in January–September.
South Korea ranked sixth among US import sources in January–September, up from ninth a year earlier.
South Korea was forecast to reach $1 trillion in annual exports around November 19–20, with $363 billion still to go as of November 10.
- Who
- South Korea.
- What
- It ranked first in China’s import market for six consecutive months as its exports grew.
- When
- April through September 2026; the report was published on November 13.
- Where
- China’s import market, with South Korea also gaining ground in the United States.
- Why
- A surge in semiconductor exports helped drive the increase.
Semiconductor-industry caution
South Korean Ministry of Trade, Industry and Resources
Export outlook
Semiconductor-industry caution
Semiconductor exports are driving growth, but overreliance on them could obscure warning signs in other industries.
South Korean Ministry of Trade, Industry and Resources
Semiconductor exports are large, but exports excluding semiconductors also rose 23% through September, and the ministry says it is pursuing export diversification.
Long-term growth
Semiconductor-industry caution
Maintaining $1 trillion in exports will require broadening exports beyond existing goods, including into non-memory semiconductors and services.
South Korean Ministry of Trade, Industry and Resources
Consumer goods and defense are also growing, and efforts to diversify exports are continuing.
South Korea ranked second in China’s import market, behind Taiwan.
South Korea moved into first place in China’s import market.
China’s imports from South Korea rose 75.1% year on year to $236.2 billion.
South Korea’s cumulative exports reached $963.7 billion, leaving $36.3 billion to reach $1 trillion.
South Korea was forecast to reach $1 trillion in annual exports if the pace continued.
- China imports from South Korea, January–September
- $236.2 billion, up 75.1% year on year
- South Korea’s share of China’s import market
- 9.8%, the highest
- South Korean semiconductor exports to China, January–September
- $105.4 billion, up 221.5%
- South Korea’s US import-market rank
- Sixth in January–September, up from ninth a year earlier
- Cumulative South Korean exports as of November 10
- $963.7 billion
- Projected annual export milestone
- $1 trillion around November 19–20
1 source
What people are saying
It is good that semiconductors are driving exports, but there are also industries where export values have risen due to price effects or whose competitiveness has weakened due to factors including China.
We must be careful not to miss warning signs of crisis in other industries hidden by the shine of semiconductors.
It is true that semiconductor exports are large, but exports excluding semiconductors also increased 23% through September, so the share of exports from other fields is not small.