South Korea's Q3 export concentration deepened further, with semiconductors accounting for nearly half.

South Korea’s third-quarter exports reached $318.6 billion, up 72.3% year over year, with the top 10 exporters accounting for more than 60% of total shipments for the first time since records began in 2010. Semiconductor exports surged 219% to $148 billion, or 46.5% of the total, up from 25.1% a year earlier, driven by Samsung Electronics and SK Hynix. Large-company exports jumped 103.5%, while small and medium-sized exporters grew only 12.8% and 10.7%, respectively, widening the concentration gap. The data underscore South Korea’s growing dependence on chip exports and a handful of major manufacturers for trade growth. Watch whether semiconductor demand holds up and whether smaller exporters can narrow the divergence in coming quarters.