First-half exports hit $97.8B, trade surplus reaches $77.24B — both top national rankings by wide margin
Surging demand for high-value memory chips has pushed South Chungcheong Province's exports in the first half of this year well past its total for all of last year.
The province's trade surplus has already broken its all-time record and accounts for more than half of the national total, keeping South Chungcheong in an overwhelming first place. The gains reflect the province's position as a key beneficiary of global big tech companies' expanding investment in AI infrastructure.
South Chungcheong Province's exports for the first half of this year (January–June) totaled $97.8 billion, according to provincial authorities Thursday. That exceeds the $97.08 billion the province exported over all of last year by $719 million.
The province's exports accounted for 19.7 percent of the national total of $496.35 billion over the same period, ranking second behind Gyeonggi Province at $159.06 billion. Provincial officials said that if the current pace continues, South Chungcheong's full-year exports could surpass $200 billion.
Memory chip exports for the first half reached $59.24 billion, a 278.9 percent increase from $15.63 billion in the same period last year. Computer storage media exports also surged 259.6 percent, rising from $3.27 billion to $11.75 billion.
Behind memory chips and computer storage media, other leading export categories were flat panel displays at $4.52 billion, system semiconductors at $3.84 billion, diesel fuel at $2.65 billion, and jet fuel and kerosene at $1.54 billion.
By destination, Hong Kong led with $16.73 billion, up 186.3 percent, followed by Vietnam at $16.59 billion, up 96.6 percent; the United States at $16.18 billion, up 180.3 percent; China at $11.12 billion, up 45.2 percent; and Taiwan at $11.1 billion, up 171.7 percent.
Exports to the Philippines soared 644.5 percent to $4.33 billion, while those to Malaysia climbed 393.7 percent to $3.66 billion.
Imports rose 9.4 percent year-on-year to $20.56 billion from $18.79 billion. Major import items were ▷crude oil at $9.12 billion, ▷naphtha at $1.66 billion, ▷and thermal coal at $1.65 billion. Top import sources were ▷the United States at $3.44 billion, ▷China at $2.61 billion, ▷Australia at $1.89 billion, ▷Saudi Arabia at $1.81 billion, ▷and Japan at $1.12 billion.
The trade surplus reached $77.24 billion, far exceeding last year's full-year figure of $59.4 billion and up 223.1 percent from $23.94 billion in the same period a year earlier.
South Chungcheong's trade surplus represented 56.1 percent of the national total of $137.69 billion, and the province has held the top national ranking for 15 consecutive months since April last year.
The provinces that followed were Gyeonggi Province at $57.6 billion, Ulsan at $20.35 billion, North Chungcheong Province at $17.4 billion, and North Gyeongsang Province at $12.64 billion.
"The first half of this year was a period of rapid change in the trade environment, marked by US tariff barriers, instability in the Middle East and deepening protectionism," a provincial official said. "Even so, strong performance in key industries such as semiconductors, driven by expanded AI infrastructure investment, allowed us to achieve strong results."
The official added that the province would work to minimize trade risks facing local companies and provide full support for developing new markets, given that economic uncertainty is expected to persist in the second half.
kwonhl@heraldcorp.com
