Trade minister vows efforts to achieve $700 bil. in exports again in 2026

Trade Minister Yeo Han-koo, right, speaks at a trade strategy meeting held in Seoul, Thursday. Courtesy of trade ministry

Trade Minister Yeo Han-koo on Thursday vowed utmost efforts to keep South Korea's yearly exports over the $700 billion mark for the second consecutive year in 2026 despite global trade uncertainties, Yeo's office said.

"In 2025, Korea's exports surpassed the $700 billion mark for the first time, overturning an initial gloomy outlook at the beginning of the year," Yeo said in a meeting held to assess risks and opportunities surrounding exports in 2026, according to the Ministry of Trade, Industry and Resources.

Last year, Korea's exports reached an all-time high of $709.7 billion, led by robust performance of key export items, such as semiconductors, automobiles and ships, as well as the growth of smaller industries, including agro-fisheries and cosmetics.

Yeo attributed the feat to the restoration of trust in the Korean market following the launch of the administration of President Lee Jae Myung, and the bilateral trade deal between Seoul and Washington, vowing continued efforts to boost exports.

The government will work to diversify export items and destinations to respond to trade protectionist policies of major economies, including the European Union's stronger steel safeguard measures, while upgrading infrastructure and financial support for export firms, the ministry said.