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Korea's January exports reach record high thanks to chip shipments

Published: 01 Feb. 2026, 18:15

Trade containers are stacked at Incheon Port's container terminal on Feb. 1. [NEWS1]

Korea’s exports jumped to a record high for January on booming semiconductor shipments, with chips accounting for more than 30 percent of total monthly exports for the first time, government data showed Sunday.

Yet rising dependence on the sector, which benefited from strong exports to the United States, has raised concerns within the government as U.S. President Donald Trump's administration signals tougher trade measures to boost chip manufacturing on U.S. soil.

Monthly exports totaled $65.85 billion in January, up 33.9 percent from a year earlier, the Ministry of Trade, Industry and Resources said. It marked the first time January exports surpassed $60 billion.

Imports rose 11.7 percent to $57.11 billion, resulting in a trade surplus of $8.74 billion. The balance improved by $10.71 billion from a year earlier, when Korea recorded a deficit.

The number of working days increased by 3.5 days from a year earlier to 23.5 days due in part to the later timing of Seollal (Lunar New Year's Day), which falls on Feb. 17 this year. Even after adjusting for the longer working month, average daily exports rose 14 percent to $2.8 billion, the highest level ever for January.

SK hynix’s HBM4 memory is unveiled at the 27th Semiconductor Exhibition (SEDEX 2025) at COEX in Gangnam District, southern Seoul, on Oct. 22, 2025. The event, organized by the Korea Semiconductor Industry Association, ran through Oct. 24, 2025. [NEWS1]

Semiconductors led the export surge. Chip exports more than doubled from a year earlier, jumping 102.7 percent to $20.54 billion. The figure marked the second-highest monthly total on record, following December’s $20.8 billion.

The growth reflected stronger demand for AI infrastructure and rising memory chip prices.

Computer exports also climbed sharply, rising 89.2 percent from a year earlier to a record $1.55 billion, supported by growing demand for server-grade solid-state drives.

The rebound intensified Korea’s reliance on semiconductors. Chips accounted for 31.2 percent of total exports in January, the first time the share exceeded 30 percent monthly. The figure stood at 20.6 percent a year earlier.

Outside of chips, most major export items benefited from the increase in working days. Of the country’s 15 key export categories, 13 posted year-on-year growth, excluding shipbuilding and petrochemicals.

General machinery, which had declined continuously since March 2024, returned to growth in January. Car exports rose 21.7 percent to $6.07 billion, supported by strong sales of hybrid and electric vehicles and the longer working month.

U.S. President Donald Trump looks on as he exits Air Force One on his arrival at Palm Beach International Airport in West Palm Beach, Florida, on Jan. 31. [REUTERS/YONHAP]

Yet trade risks tied to U.S. policy have also intensified. Exports to the United States rose 29.5 percent from a year earlier to $12.02 billion, the highest January figure on record, driven by strong semiconductor shipments.

Excluding chips, however, U.S.-bound exports of cars fell 12.6 percent, general machinery dropped 34.2 percent and steel declined 17.7 percent, reflecting the impact of tariffs.

The Trump administration has warned it could impose tariffs of up to 100 percent on semiconductors produced outside the United States, pressuring foreign companies to expand investment in U.S. manufacturing.

“It is encouraging that key items such as semiconductors and automobiles, along with promising consumer goods, showed broad-based growth,” Trade Minister Kim Jung-kwan said. “However, uncertainty in the trade environment is growing due to recent U.S. tariff policies and the spread of protectionism, and the government will continue consultations with the United States while putting national interests first.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY AHN HYO-SEONG [[email protected]]