South Korea's April exports rise 48% as chip boom extends
South Korea's April exports rose 48% year-over-year. Semiconductor and computer-related exports surged significantly.
The strong performance of the semiconductor sector supported South Korea's export figures. Demand for artificial intelligence and data centres has driven continued demand growth in chip production. Despite weakness in the automotive sector and higher energy costs, overall performance remained positive.
Major chip manufacturers like Samsung and SK Hynix have benefited from increased global demand. The rapid growth in AI applications continues to boost demand for memory chips. However, higher energy prices from the Iran war could increase costs.
South Korea's economy depends heavily on semiconductor exports. Success in this sector supports the country's growth expectations, while the services and automotive sectors may remain weak.
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