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Vietnam, ASEAN emerge as major export markets for RoK

ASEAN, particularly Vietnam and Thailand, has also stood out. The RoK’s exports to ASEAN rose 12.5% over the period, reaching 122.4 billion USD in 2025, while exports to Vietnam climbed 10.8% to 62.8 billion USD.

Illustrative photo (Photo: VNA)
Illustrative photo (Photo: VNA)

Seoul (VNA) – Vietnam and the Association of Southeast Asian Nations (ASEAN) have emerged as increasingly important export markets for the Republic of Korea (RoK) as the East Asian country accelerates efforts to diversify its trade amid shifting global supply chains.

According to an analysis report on import-export trends during 2021–2025 released by the RoK’s Ministry of Trade, Industry and Energy, the country’s exports to China fell sharply by 19.7% over the five-year period.

Exports to China declined from 162.9 billion USD in 2021 to 155.8 billion USD in 2022 and 124.8 billion USD in 2023, before recovering slightly to 133 billion USD in 2024 and 130.8 billion USD in 2025, still well below earlier levels.

By product category, structural changes in exports were even more pronounced. In 2025, exports from the RoK to China declined year-on-year in traditional key items, including petrochemicals at 16.27 billion USD, down 6.6%; wireless communication equipment at 7.33 billion USD, down 6.5%; and general machinery at 6.28 billion USD, plunging 62.8%. The decline was attributed to China’s rapidly expanding production capacity, which has intensified competition with the RoK’s core industries.

Despite shrinking exports to China, the RoK’s overall exports continued to grow. In 2025, total exports hit a record high of 709.7 billion USD, buoyed by a semiconductor super-cycle driven by the expansion of artificial intelligence and data centres. The US, ASEAN and Vietnam helped offset much of the decline from the Chinese market.

The RoK’s exports to the US surged 28.2% over five years, from 95.9 billion USD in 2021 to 122.9 billion USD in 2025. With the US imposing reciprocal tariffs and restructuring supply chains, the upward trend is expected to persist.

ASEAN, particularly Vietnam and Thailand, has also stood out. The RoK’s exports to ASEAN rose 12.5% over the period, reaching 122.4 billion USD in 2025, while exports to Vietnam climbed 10.8% to 62.8 billion USD.

Korean exports to Central and South America also increased from 25.8 billion USD to 31 billion USD, to the EU from 63.6 billion USD to 70.1 billion USD, to the Middle East from 15.6 billion USD to 20.4 billion USD, and to India from 15.6 billion USD to 19.2 billion USD over the same period./.

VNA
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