South Korea’s monthly exports exceeded $100 billion for the first time, driven by a sharp rise in semiconductor shipments. The country’s June exports rose 70.9 percent from a year earlier to $102.24 billion, the industry ministry said on Tuesday. Semiconductor exports surged 199.5 percent to $44.8 billion, also marking the first time monthly chip exports topped $40 billion.

The won-dollar rate has swung sharply this year, hitting an annual high of 1,562 won before easing to the 1,530 range. The won remains at crisis-levels even as the KOSPI breaks above 9,000 and the current account posts a record. The Financial Times cited structural factors, including chipmakers reinvesting dollar earnings overseas and rising demand for dollars from outbound investments. Authorities and experts are watching further pressures in July and August.