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

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.