South Korea’s exports to ASEAN rose 4.3% to USD 47.88 billion in the first five months of 2025, helping offset declines in shipments to the US and China amid global trade tensions and rising protectionism. In February and March 2025, ASEAN-bound exports surpassed those to China for the first time in 23 years. KOTRA identifies ASEAN as a promising market for semiconductors, electronics, robotics, EV batteries, and renewable energy equipment.

South Korea’s exports to ASEAN have been on an upward trend, helping to counterbalance falling shipments to the US and China caused by the US’ new tariff policies. According to the Korea International Trade Association (KITA), ASEAN-bound exports totaled USD 47.88 billion in January–May 2025, up 4.3% year-on-year.

In February 2025, exports to ASEAN reached USD 9.56 billion, overtaking China (USD 9.5 billion) for the first time in 23 years. This trend continued in March, with exports to ASEAN totaling USD 10.26 billion compared to USD 10.06 billion to China. Over the same period, exports to the US fell 4.3% and to China 5%.

In May 2025 alone, retaliatory US tariff measures caused exports to the US to fall 8.4% to USD 10.05 billion, while exports to China dropped 8.1% to USD 10.4 billion. ASEAN-bound exports edged down 1.3% to USD 10 billion.

KOTRA views ASEAN as an attractive export destination thanks to supply chain diversification away from China, rapid digital economy growth, and an expanding middle class. Promising export items include semiconductors, electronics, home appliances, robots, EV battery components, renewable energy equipment, and other high-tech products that match the region’s industrial and infrastructure needs.

Source: New Straits Times