Cargo containers are stacked at a port in Busan on August 1. Yonhap
The semiconductor and automobile industries were Korea’s leading exporters in the second quarter, accounting for a record 35 percent of total foreign shipments, data showed on Sunday.
Combined exports of chips and cars reached $54.3 billion in the April-June period, accounting for a quarterly high of 35.6 percent of total exports, according to data from the Korea International Trade Association. The previous high was 32.9 percent in the third quarter of 2018.
The share of chip exports in total exports was 23.5 percent, that of car exports 12.1 percent.
Specifically, the share of chip exports exceeded the 20 percent mark for the first time in the fourth quarter of 2017, before declining to 15.7 percent and 16.4 percent respectively in the first and second quarters of last year due to a downturn in the global chip industry.
The number rebounded this year due to the recovery in global chip demand, driven by growth in the cloud computing and artificial intelligence markets.
In the April-June period, auto exports reached $19.5 billion, the highest quarterly figure in 17 years after the figure first exceeded the $10 billion mark in the fourth quarter of 2007.
The Korea Automobile & Mobility Association forecasts overseas sales in the second half of the year to reach $375 billion, up 6.5 percent year-on-year, thanks to strong demand for Korean eco-friendly and SUVs in the North American market. (Yonhap)
