In the first half of 2025, Korean exports were flat in value and declined 0.4% year-to-date in volume. Exports fluctuate monthly, probably related to front-loading, but slowed overall, with US tariffs having a net negative impact. Tariff-affected goods like cars and steel declined sharply. In contrast, tariff-exempted semiconductors and pharmaceuticals saw strong growth. By destination, exports to the US and China weakened notably, while exports to the rest of Asia and Europe increased. Despite a mediocre export performance, net exports contributed positively to overall growth in the first half of 2025, mostly due to ... (full story)