South Korea's exports reached a record $275.5 billion in the second quarter, rising 57.3% from a year earlier as the semiconductor upcycle drove a sharp increase in outbound shipments. Electrical and electronics exports surged 109.8% to $160.4 billion, making up 58% of total exports, while mining and manufacturing exports rose 64.9%. The strength of chipmakers Samsung Electronics and SK Hynix also increased concentration among the country's biggest exporters: large enterprise exports climbed 81.8%, far ahead of mid-sized companies and SMEs, pushing the top 10 exporters' trade concentration ratio to 55.3%, the highest since records began. Early August data indicated the momentum continued into the third quarter, with exports in August 1-10 rising 45.3% to $21.3 billion and semiconductor exports reaching $10 billion, or 46.8% of the total. Exports to the United States, China and Southeast Asia rose strongly in the second quarter, while shipments to the Middle East and the Commonwealth of Independent States declined.