South Korea posts $9.7B trade surplus as chip and auto exports surge

South Korea posted a $9.7 billion trade surplus in November as exports rose sharply, driven mainly by a near 39% jump in semiconductor shipments and about a 14% rebound in auto exports. Working‑day adjusted exports climbed 13.3% year‑on‑year and headline exports were up 8.4%; imports increased 1.2%. Customs data and Bank of Korea commentary point to strong AI and data‑centre demand — especially for DRAM and high‑value chips — as the primary growth engine, while non‑chip sectors such as petrochemicals lagged. A recent Korea–US trade agreement, which caps certain US tariffs on key Korean goods at 15% (including a retroactive reduction in vehicle levies), should reduce policy uncertainty for exporters and support equipment investment. Destination breakdown showed exports to China +6.9%, the Middle East roughly +33%, Southeast Asia +6.3%, while shipments to the US dipped slightly. The Bank of Korea left its policy rate at 2.5% and nudged up growth forecasts (2025: ~1.0%; 2026: ~1.8%) but internal views on future cuts are split. For crypto traders: stronger semiconductor demand supports Korean chip equities and suppliers that underpin data‑centre capacity, which can indirectly benefit on‑chain and infrastructure projects tied to cloud and AI workloads; the tariff deal reduces macro policy tail‑risk that might otherwise pressure risk assets. Non‑chip exporters remain vulnerable, so watch Korean equities, FX moves (KRW), and risk‑asset flows for spillovers into crypto market liquidity and sentiment.