China replaces US as South Korea's top export destination in July, driven by semiconductor demand.

China surpasses the US as South Korea's top export destination due to a 14.9% year-on-year increase in July, with $11.4B exports reaching the highest monthly total in nearly two years. The surge is driven by rising demand for semiconductors, contributing to total shipments from Jan-July reaching $74.8B. China had been the largest purchaser of Korean products before the US took the position in Q2 of last year.

August 04, 2024
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