Chip exports, accounting for more than 20 percent of total exports, jumped nearly 44 percent to $141.9 billion, surpassing the previous record of $129.2 billion set in 2022, the ministry reported Tuesday.
The country's trade surplus hit $51.8 billion, its highest since 2018, as imports fell 1.6 percent to $632 billion amid stabilizing energy prices.
Exports to China, South Korea's largest trading partner, rose 6.6 percent to $133 billion. Shipments to the United States increased 10.5 percent to $127.8 billion, marking the seventh straight year of record exports to the U.S.
December exports grew 6.6 percent year-on-year to $61.38 billion, extending the growth streak to 15 consecutive months. Semiconductor shipments hit a monthly record of $14.5 billion, up 31.5 percent from 2023.
The automotive sector remained strong at $70.8 billion, while shipbuilding exports rose 18 percent to $25.6 billion, driven by deliveries of high-value vessels including LNG carriers contracted in 2021.
Emerging export categories including cosmetics and agricultural products each surpassed $10 billion in annual exports for the first time, recording $10.2 billion and $11.7 billion respectively.
"Despite challenging external conditions and recent domestic political circumstances, our companies have remained steadfast in their efforts," Minister of Trade, Industry and Energy Ahn Duk-geun said.
He added that the government would work to minimize impacts from uncertainties surrounding the new U.S. administration.
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