Seoul (VNA) – The Republic of Korea (RoK)’s exports to the Association of Southeast Asian Nations (ASEAN) reached a record 10.89 billion USD in August, up 11.9% from a year earlier, extending a three-month streak of growth, according to the Ministry of Trade, Industry and Energy.
Meanwhile, exports to the US tumbled 12% and shipments to China slipped 2.9% during the same period, reflecting the impact of US tariffs and raising concerns over a wider export slowdown. However, the surge in exports to ASEAN lifted the RoK’s overall exports to a positive level. territory.
The RoK's export value to ASEAN, which traditionally ranked third after exports to China and the US, surpassed exports to the US for in July and August.
Semiconductors led the surge, with exports jumping 47% to 2.7 billion USD and accounting for a quarter of total shipments. Analysts said booming investment in artificial intelligence and data centres fueled strong demand across ASEAN’s electronics markets.
Shipbuilding and petroleum products also powered growth. Ship exports soared nearly 360%, while refined oil shipments climbed 16.3%. Petrochemical exports rose 13.4%, though growth was tempered by intense price competition from Chinese producers.
Major Korean companies such as Hyundai Motor and POSCO are expanding their footprint in Southeast Asia by building factories and export hubs in Malaysia, Indonesia, and Vietnam, further consolidating the RoK’s role in the region’s supply chains.
Experts predict ASEAN could eventually surpass both the US and China to become the RoK’s largest export destination. A young population, a rapidly growing middle class, and accelerated digital transformation are making the region an increasingly attractive market for Korean goods./.
