AI Investment Propels South Korea's Exports Up 24%, Bolstering Economic Growth Forecast

This growth is primarily driven by a surge in semiconductor sales, fueled by global AI investment. While this figure is lower than January's 33.8% rise, it represents the second-fastest growth in the current upward trend.

The article notes that data for February can be distorted by Lunar New Year holiday timing shifts. Economists anticipate semiconductor export growth to exceed 100% in the first half of the year, though momentum in autos and machinery is weaker due to tariff effects.

In the first 20 days of February, overall exports rose 23.5%, with semiconductors up 134.1%. Shipments to China, the U.S., and the EU also saw increases.

The Bank of Korea has raised its economic growth forecast for the year to 2.0%, citing the chip boom. Imports are expected to have risen 13.0%, leading to a projected trade surplus of $10.0 billion.