A Reuters survey shows that driven by surging global demand for AI chips, South Korea's exports in August are likely to continue strong growth, achieving year-on-year increases for the 15th consecutive month. The median forecast of 10 economists predicts that South Korea's exports in August will increase by 62.6% year-on-year, basically maintaining the strong momentum of July's 63% surge. Analysts indicate that the two major memory chip giants, Samsung Electronics and SK Hynix, continue to be t

Reuters survey shows that, driven by surging global demand for AI chips, South Korea's exports in August are likely to continue their robust growth, marking the 15th consecutive month of year-on-year increase. The median forecast of 10 economists indicates that South Korea’s August exports are expected to grow by 62.6% year-on-year, essentially maintaining July’s strong momentum with a 63% increase. Analysts say Samsung Electronics and SK Hynix, two leading memory chip giants, continue to be the main pillars of export growth. Park Sang-hyun, an economist at iM Investment & Securities, stated: “Exports of IT products, especially semiconductors, are expected to maintain high growth rates. Looking ahead, although the strong performance of global manufacturing will continue to support this upward trend led by semiconductors, due to the base effect, the year-on-year export growth rate is expected to gradually slow down.”