South Korea’s annual exports exceeded $700 billion for the first time last year, driven by a semiconductor boom. Strong momentum this year has fueled expectations that the country could overtake Japan in annual exports for the first time.
The Ministry of Trade, Industry, and Resources reported on Sunday that South Korea’s exports reached $709.33 billion in 2025, marking the first time the nation has crossed the $700 billion threshold
South Korea’s exports have shown sustained growth over the past decades, rising from $100 billion in 1995 to $200 billion in 2004, $300 billion in 2006, $400 billion in 2008, $500 billion in 2011, and $600 billion in 2018. The latest milestone was reached seven years after the country first exceeded the $600 billion mark.
South Korea has now become the sixth country globally to surpass $700 billion in exports, following the United States, Germany, China, Japan, and the Netherlands. While it was the seventh country to cross the $600 billion threshold, it achieved the $700 billion milestone at a comparatively faster pace than many of its peers.
The export gap with Japan has also narrowed significantly. According to the World Trade Organization, Japan’s goods exports reached $738.3 billion in 2025, leaving a difference of just $29 billion between the two countries.
South Korea’s monthly exports showed strong momentum, surpassing Japan four times in 2025 and narrowing the gap in the second half. The trend has intensified in 2026 with a semiconductor boom. Exports hit a record $65.85 billion in January—exceeding Japan’s total—and continued to lead in February, before reaching $86.13 billion in March, marking a new monthly high.
Although Japan’s March export figures have not yet been released, analysts believe South Korea likely outpaced Japan.
First-quarter exports reached a record $219.3 billion, the highest ever for a single quarter. An official from the Ministry of Trade, Industry and Resources said exports are expected to rise further in the second half, increasing the likelihood of surpassing the government’s $740 billion target and setting a new annual record for a second straight year.
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