Rising memory prices pushed South Korea\'s semiconductor exports above $40 billion for a second straight month. The Ministry of Trade, Industry and Energy said July semiconductor exports rose 178.8% from a year earlier to $41.01 billion, the second-highest monthly total on record after June\'s $44.8 billion. Total exports climbed 62.8% to $98.89 billion and the trade balance recorded a $30.32 billion surplus.

The United States has finalised a 12.5% tariff on South Korean products over forced labor, leaving 2.5 percentage points before a 15% cap set in last year’s trade agreement. The U.S. Trade Representative said the measure, imposed under Section 301, applies across 60 economies and takes effect on July 24. South Korea is in the first group with Japan and Switzerland. Seoul says the U.S. reaffirmed the 15% combined cap as a separate overproduction probe continues.