South Korea's exports in May recorded $87.75 billion, setting a new all-time high for a single month. This figure represents a 53.2% increase compared to the same month last year, continuing a 12-month streak of record-breaking monthly performances since shifting to an upward trend in June of last year.

According to the 'May Export and Import Trends' announced by the Ministry of Trade, Industry and Energy on the 1st, monthly exports surpassed $80 billion for the first time in March and have remained above this mark for three consecutive months. This performance exceeds the previous record of $87.2 billion set in March. In particular, average daily exports, which reflect the number of working days, surged by 60.7% to $4.28 billion, surpassing the $4 billion mark for the first time in history.

■ Semiconductor Exports Exceed $37.1 Billion... Driven by AI Demand The core driver of this export growth was semiconductors. Semiconductor exports in May skyrocketed by 169.4% to $37.16 billion, marking an all-time monthly high. This surpassed the previous record of $32.8 billion set in March, maintaining exports above $30 billion for three consecutive months and achieving record performances for the respective month for 14 consecutive months. The expansion of artificial intelligence (AI) demand underpinned this robust performance.

Among the top 20 major export items, exports increased for 12 items. In contrast, automobile exports fell by 5.9% year-on-year to $5.83 billion. This is analyzed as the result of complex factors, including a reduction in working days, disruptions in parts supply due to domestic fires, logistics instability stemming from the Middle East war, U.S. tariff impositions, and the expansion of local production.

■ Exports to China Jump 80.9%... Growth Recorded in 7 of 9 Major Markets By region, exports increased in seven out of the nine major markets. Exports to China recorded an 80.9% increase to $18.9 billion, driven by the surge in semiconductor exports. Exports to the United States were also tallied at $15.97 billion, a 59.1% increase, fueled by strong performances in semiconductors, computers, and electrical equipment.

■ 16 Consecutive Months of Surplus... Cumulative Surplus Exceeds 'Annual Record' Imports in May were tallied at $60.8 billion, a 20.8% increase. Consequently, the trade balance recorded a surplus of $26.95 billion, maintaining a surplus trend for 16 consecutive months. Notably, the cumulative trade balance for the January-May period of this year reached $101.91 billion, already exceeding the previous largest annual surplus record.

Minister of Trade, Industry and Energy Kim Jung-kwan stated, "The upward trend in exports has continued for 12 consecutive months since the inauguration of the government," adding, "The strong performance of IT items centered on semiconductors, along with consumer goods such as cosmetics and agricultural and fishery food products, drove the overall expansion of exports."

Minister Kim added, "Uncertainties remain in the trade environment, including the situation in the Middle East, U.S. tariffs, and the European Union (EU) steel TRQ," and noted, "We will mitigate trade risks through consultations with major countries and support the stable import of key raw materials such as crude oil and naphtha."