South Korean regional exports rise on IT and electronics demand

South Korean regional exports saw a significant boost driven by high demand in the IT and electronics sectors.

In the Daegu-Gyeongbuk region, monthly exports exceeded $4.8 billion, marking the highest level in three years and four months. This represents a 19.7% increase compared to the same period last year. Daegu's exports rose by 20.0%, led by chemical products, machinery, and automotive parts, while Gyeongbuk's exports grew by 19.6%, driven largely by electrical and electronic products. The region achieved a trade surplus of $2.53 billion.

Similarly, Chungbuk reported a 31.4% year-on-year increase in July exports, reaching $3.87 billion. This marks 17 consecutive months of growth for the province. Semiconductor exports were a major driver, increasing by 35.7% to reach $2.42 billion. The province maintained a trade surplus of approximately $2.99 billion, with strong growth observed in exports to the United States and China.