South Korea’s cumulative exports reached an all-time high of $709.4 billion by 1 p.m. on Sept. 5, surpassing the previous full-year record of $709.3 billion in 248 days, or 117 days earlier than last year. The Ministry of Trade, Industry and Energy and the Korea Customs Service reported the figure on Sept. 6. A semiconductor boom is driving the increase: chip exports totaled $281.2 billion in January-August, up 169.6% from a year earlier and 60% above the full-year total in 2024. Semiconductors accounted for 40.6% of exports, while computer peripherals, petroleum products, wireless communication devices and ships also recorded strong growth. Monthly exports set records from January through August, averaging $88.66 billion compared with $59.1 billion last year. Analysts said South Korea could exceed $1 trillion in annual exports in early December and potentially move into the world’s top four exporters. WTO merchandise trade data ranked Korea sixth in the first half, but its $496.1 billion in exports was $35.38 billion below the Netherlands, with the difference equivalent to roughly eight or nine business days of Korean shipments. A government official said the Netherlands and Hong Kong benefit from re-export activity through their logistics hubs, arguing that Korea was effectively already the fourth-largest exporter in the first half.