Automobiles & Semiconductor Parts Drive Growth Amid Rising AI Demand
In 2024, Korea’s exports to the United States reached $127.8 billion, an increase of 10.4% compared to the previous year — the highest figure ever recorded. The U.S. remained Korea’s second-largest export market, accounting for 18.7% of the total export volume.
Automobiles Remain the No.1 Export
Automobiles were once again Korea’s top export item to the U.S. in 2024.
Both hybrid and internal combustion engine vehicles showed steady demand, with Korean brands accounting for 17.6% of U.S. car imports.
Explosive Growth in Semiconductor Demand
Thanks to expanding AI-related investment, demand for DRAM and SSDs surged.
Exports of computer parts increased by 116.8%, while non-volatile memory devices like SSDs rose by an impressive 236% year-over-year.
Battery Exports Declined
Due to weakening global demand for electric vehicles, battery exports dropped by 19.2% compared to 2023.
Still, batteries remained Korea’s sixth-largest export item to the U.S., totaling $3.9 billion.
Summary
- Automobiles remained the top export item
- AI and data center investments fueled sharp growth in IT components
- Batteries and refrigerators experienced declines due to softening global demand
Korea’s 2024 export trends to the U.S. clearly reflect a dual focus on traditional strengths and next-generation technologies.