Korean trade shifted towards US in 2023
January 06, 2024
The United States surpassed China as South Korea’s biggest exporter for the first time in 20 years. According to the Ministry of Trade, Industry, and Energy, auto exports were the main driver in South Korea’s trade surplus of $44.5 billion in 2023, amounting to $70.8 billion. With a new record of 1,172,612 units exported to the US from January to November.
With increasing demands for AI technology, next-generation semiconductors, LNG carriers, and eco-friendly ships, exports are predicted to continue rising.
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