Kim Jung-kwan: "Exports Could Top $900 Billion This Year" ... Korea Within Reach of the Top Five Exporters

\r
[Financial News]  
\rMinister Kim Jung-kwan of the Ministry of Trade, Industry and Energy said South Korea is hopeful of joining the world's top five exporters this year. His outlook is based on the semiconductor boom driving overall exports, while non-semiconductor items and exports by small and medium-sized companies are also posting double-digit growth. The government plans to accelerate support for SME and consumer-goods exports in the second half of the year, focusing on major markets such as China and India.
At a dinner meeting with ministry reporters in Sejong City on the 27th, Kim said, "Exports this year could cautiously exceed $900 billion." He voiced optimism about reaching the top five and added, "Even excluding semiconductors, 15% is a good number."
Semiconductors are the key driver behind this year's strong export performance. Shipments have risen sharply as investment in artificial intelligence server infrastructure expands and the memory market improves. Still, Kim stressed that export growth is not relying solely on semiconductors.
Kim said, "People say exports are up because of semiconductors, but other sectors are also growing by around 14% to 15%." He added, "Even if we set semiconductors aside, 15% is a good number." He also noted, "There is talk that exports are concentrated in large companies, but SME exports have also increased by 10%." He called that "very encouraging in a very difficult environment."
The government plans to strengthen market-specific support in the second half of the year to sustain export growth. In particular, it is focusing on expanding SME exports of consumer goods in major markets such as China and India.
Kim said, "The next challenge is to raise the export growth rate of small and medium-sized companies." He added, "Even excluding semiconductors, the numbers are encouraging, so we will work to sustain this momentum." He explained, "KOTRA sets performance indicators for each headquarters and reviews them quarterly. China is a priority because one province there is larger than an entire country, and India comes next."
He added, "There are markets that can be opened with consumer goods from SMEs." He continued, "The world is vast, and there are many places to export to. Please look forward to the second half of the year."
On follow-up projects under the Special Act on U.S. Investment, Kim took a cautious stance on the timing of any specific announcement. Speaking about negotiations with the United States, he said discussions are moving in a constructive direction rather than starting with tension. He added that there had been concerns that "they might try to take advantage of Korea," but said the talks are "far more constructive." However, on the possibility of announcing the first project this month or next month, he said, "It is not about setting a deadline. We are analyzing whether it makes commercial sense." He added that the project can move forward only after the analysis is complete. Asked about details, he said, "No comment."
Meanwhile, Kim expressed confidence in South Korea's competitiveness in Canada's submarine procurement project, while maintaining a cautious tone. He said, "We have a real asset in ROKS Jang Bogo," adding that Korea has strengths in price and specifications compared with rival proposals that are still in the design stage. Still, he said, "Canada is a NATO member," and added, "There may be a strategic judgment that an old friend is Europe, so we cannot let our guard down."
\r
aber@fnnews.com Park Ji-young Reporter