South Korea's average daily exports for the first 10 working days of August were $3.04 billion, a decrease of about 13% from $3.51 billion in the same period of July, but also significantly lower than the peak in June. Coupled with the overall export growth rate falling from 70.7% in June to 62.8% in July, South Korea's year-on-year export growth may have peaked. However, this is more a sign of slowing momentum due to a high base than a reversal in export activity: exports for the first 10 days of August still increased by 45.3% year-on-year, with semiconductor exports surging 155.4% to $9.95 billion, accounting for nearly half of total exports.
If future shipments remain stable while unit value remains high, it indicates that AI demand and product structure upgrades are weakening the traditional storage cycle; if sales accelerate again after capacity expansion but prices begin to fall, it will return to the traditional cycle of "capacity expansion—increased supply—falling prices."
