South Korea aims to exceed $1 trillion in exports despite global headwinds

At an emergency economic meeting, Finance Minister Lee Hyoung-il projected that South Korea’s annual export volume will break the historic $1 trillion threshold despite adverse external conditions such as the ongoing Middle East war. He noted that the economy remains on a firm growth trajectory, with GDP likely to expand by about 3 percent this year. The minister outlined a policy focus on improving citizens’ livelihoods, stabilising inflation and narrowing the income gap.

Export data for September showed an 83.5 percent increase from a year earlier, reaching a record $120.9 billion, largely thanks to a surge in chip shipments. The Ministry of Trade, Industry and Resources highlighted that semiconductor exports exceeded $60 billion for the first time, lifting the nine-month export total to $814.5 billion, already outpacing the full-year figure of $709.3 billion recorded last year.