South Korea's February exports hit a record high. The industry ministry said on Saturday that exports rose 29.0 percent from a year earlier to $67.45 billion, the highest February figure on record.

Despite 3.0 fewer working days due to the Lunar New Year holiday, exports posted a record for the month for a ninth consecutive month. Average daily exports jumped 49.3 percent to $3.55 billion, topping $3 billion for the first time. The trade balance posted a surplus of $15.51 billion, a record high for any period, extending a surplus run to 13 months.

By item, semiconductors led overall exports. February semiconductor exports surged 160.8 percent from a year earlier to $25.16 billion. That reflected excess demand from increased AI investment and a continued sharp rise in memory prices, marking a third straight month above $20 billion. The fixed price of DDR4 8-gigabyte memory jumped 863 percent over a year to $13.0 from $1.35. Computer exports, helped by strong SSD exports, rose 221.6 percent to $2.56 billion for a fifth straight monthly gain, while ships rose 41 percent to $2.2 billion. Wireless communications equipment rose 12.7 percent to $1.47 billion, and biohealth rose 7.1 percent to $1.31 billion.

By contrast, cars fell 20.8 percent to $4.81 billion and auto parts dropped 22.4 percent to $1.45 billion as production volumes declined due to fewer working days linked to Lunar New Year travel. Petroleum products posted higher export volumes, but fell 3.9 percent to $3.73 billion due to lower unit prices from low global oil prices. Petrochemicals, down 15.4 percent, and steel, down 7.8 percent, were also weak due to lower unit prices from oversupply.

By region, exports rose in 7 of the nine major export markets. Exports to the United States rose 29.9 percent to $12.85 billion, the highest February total on record. Semiconductors, up 342 percent, and computers, up 328 percent, posted triple-digit growth rates, while biohealth, petroleum products and secondary batteries also showed broad gains.

Exports to China were weak for many items due to the Lunar New Year holiday, but jumped 34.1 percent to $12.75 billion, driven by sharp increases in semiconductors, computers and petroleum products. Exports to ASEAN, up 30.4 percent to $12.47 billion, and exports to the European Union, up 10.3 percent to $5.6 billion, also posted record February totals.

Imports rose 7.5 percent to $51.94 billion. Crude oil imports fell 11.4 percent to $5.43 billion due to lower oil prices, but imports of semiconductors rose 19.1 percent to $6.76 billion, semiconductor equipment rose 43.4 percent to $2.56 billion, and phones rose 80.2 percent to $1.03 billion. Non-energy imports, at $42.64 billion, rose 9.6 percent.

Trade Minister Kim Jung-kwan (김정관) said February exports extended gains for a ninth consecutive month as key products such as semiconductors, computers and ships drove overall exports despite fewer working days due to the Lunar New Year holiday. He said external uncertainty surrounding South Korea's exports is increasing due to rising tensions in the Middle East and U.S. tariff policy. He said the government will continue close communication with the United States to ensure the balance of benefits secured through the South Korea-U.S. tariff agreement and conditions for exports to the United States are not undermined, and will also make every effort to ensure swift parliamentary passage of a special law on investment in the United States.

He also said the government will establish a trade structure that remains steady under any changes in external conditions. Based on the government-wide export expansion measures announced on Feb. 25, he said, the government will pursue diversification of export items and markets, innovation of export support systems including finance, exhibitions and infrastructure, and expansion of the base through phased support for small and regional companies. He stressed the government will work to be able to make a leap this year into the global top five in exports.