South Korea’s July Exports Rise 5.9% to $60.8 Billion Led by Record $14.7 Billion Semiconductor Surge; CPI Up 2.1%

South Korea's exports grew 5.9% year-on-year in July 2025, driven primarily by strong demand for semiconductors. Semiconductor exports surged 31.6% year-on-year to a record $14.71 billion, marking the best July performance ever. This growth was supported by higher average chip prices and robust sales of high-end memory chips such as HBM and DDR5. Overall exports reached $60.8 billion. The export increase represents the fastest growth in seven months, occurring ahead of the implementation of higher U.S. tariffs. Additionally, South Korea's consumer price index (CPI) rose 2.1% year-on-year in July, with the CPI excluding food and energy increasing 2.0%, reflecting steady inflationary pressures.