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Korea's export data for semiconductors are usually an early indicator for Samsung and SKH operating profits. Hence, we are expecting an unprecedented earnings beat for Q2.
https://www.chosun.com/english/market-money-en/2026/05/21/CLNYE5H4VNHS5ISB265TCEHOLU/
"Exports from May 1 to 20 increased by 64.8% compared to the same period last year, driven by a boom in the semiconductor industry, with semiconductor exports surging 202.1% year-on-year.
According to the Korea Customs Service’s announcement on the 21st regarding the "Status of Exports and Imports from May 1 to 20, 2026," exports during this period reached $52.7 billion, a 64.8% increase from the same period last year. This marks the highest export performance for May 1–20 on record, surpassing the previous record of $38.6 billion set during the same period in May 2022.
The number of working days during this period was 13.5 days, one day more than the previous year. Adjusting for this, the daily average export amount was $3.9 billion, a 52.6% increase from the previous year.
Semiconductor exports hit $22.0 billion, a 202.1% year-on-year increase, setting a new record for May 1–20. The share of semiconductors in total exports rose by 19.0 percentage points to 41.7% compared to the same period last year.
Exports of petroleum products (46.3%) and computer peripherals (305.5%) performed well during this period, but passenger car exports declined by 10.1%.
By country, exports increased to China (96.5%), the U.S. (79.3%), Vietnam (70.2%), the European Union (21.7%), and Taiwan (110.4%). The top three export destinations: China, the U.S., and Vietnam accounted for 51.8% of total exports.
Imports from May 1 to 20 rose by 29.3% to $41.6 billion. By item, imports increased for semiconductors (55.5%), crude oil (26.4%), and semiconductor manufacturing equipment (116.2%). Energy imports, including crude oil, gas, and coal, grew by 23.9%.
By country, imports increased from China (42.1%), the U.S. (24.6%), the European Union (41.9%), and Japan (23.8%). The trade balance recorded a surplus of $11.0 billion during the mid-May period."