Huatai Securities said robust AI supply-chain demand pushed South Korea's June
exports well above expectations and lifted the trade surplus to a record high.
Leading indicators show AI-related trade remains in a high-growth phase,
implying Korea's export strength could persist and support elevated nominal GDP
growth. The Philadelphia Semiconductor Index, which leads Korean semiconductor
exports by about four months, remains high YoY, signaling continued chip export
momentum. Rising memory prices amid strong AI demand are further supporting
nominal export values. Huatai concludes the export surge indicates the global AI
supply chain is still on an upward path and that Asian suppliers, including
Korea and China are likely to keep benefiting.
