Chungnam Province’s Exports Surge as Semiconductor Shipments Jump 279% in H1

South Korea’s Chungnam province recorded total exports of $977.99 billion in the first half of 2023, surpassing the entire amount earned in the previous full year by $7.19 billion. The region’s exports accounted for 19.7 % of South Korea’s total trade in the period, making Chungnam the second‑largest exporting region after Gyeonggi.

The surge was driven largely by a dramatic rise in memory‑chip demand linked to global AI‑infrastructure investments. Semiconductor exports reached $592.39 billion, a 279 % increase year‑on‑year, while computer‑related hardware grew 259.6 %. Export growth was strongest to Hong Kong, Vietnam, the United States, China and Taiwan. Provincial officials expect total exports to exceed $200 billion for the full year.

Overall trade surplus stood at $772.4 billion, up sharply from the previous year, while imports rose 9.4 % to $205.59 billion, led by oil, naphtha and coal.