China's Imports from Korea Surge 98% in a Year — Chips and HBM Drive Korea–China Trade

July data from both China Customs and Korea Customs show Korea–China trade surged over the past year: China's imports from Korea rose 97.8%, and Korea's exports to China 96.2%. Semiconductor demand fueled by AI investment is lifting bilateral trade on both sides.

By the Editorial Desk

In July 2026, trade between Korea and China expanded sharply once again, with semiconductors at its center. Figures released separately by China's General Administration of Customs and the Korea Customs Service both show cross-border volumes surging year on year, with memory-chip demand driven by the AI investment boom the common thread lifting Korea's exports to China.

China Customs July data

According to China Customs, the country's total goods trade for January–July 2026 reached 30.13 trillion yuan, up 17.3% year on year — near the full-year total for 2018 (30.51 trillion yuan). Exports were 17.44 trillion yuan (+14.0%) and imports 12.69 trillion yuan (+22.0%). In July alone, trade came to 4.66 trillion yuan, above 4 trillion for a fifth straight month.

In dollar terms, July exports were US$397.85 billion, up 23.9% year on year, and imports US$285.35 billion (+27.5%), leaving a July trade surplus of US$112.5 billion.

Trade with Korea stood out

By partner, growth with Korea was especially strong. China's exports to Korea rose 46.6% to US$18.12 billion, while imports from Korea soared 97.78% to US$31.05 billion — nearly double a year earlier. That far outpaced the 17.0% rise in exports to the U.S. and 15.3% in imports from the U.S. For January–July combined, China's exports to Korea rose 33.3% and imports from Korea 67.0%.

Per the Korea Customs Service and the Ministry of Trade, Industry and Energy, Korea's total July exports were US$98.9 billion — its second-highest month on record — with exports to China up 96.2% at US$21.7 billion. Though the two customs agencies measure differently, both confirm that the Korea-to-China flow roughly doubled over the year.

Semiconductors (integrated circuits) lead

Semiconductors sit at the heart of this expansion. China Customs data show integrated-circuit exports reached US$216 billion for January–July, up 99.5% year on year, with the single-month figure up 116.57% in July — the cumulative total already exceeding all of 2025. Analysts point to full order books for "computing-power" products such as AI servers, memory chips and high-speed optical modules.

Korean data tell the same story. Korea's July semiconductor exports jumped 178.8% to US$41 billion, topping US$40 billion for a second straight month. As global IT firms invest heavily in data centers, demand for memory such as HBM and NAND has exploded, and much of that supply flows from Korea to China and the wider world.

Beyond semiconductors

China's shifting export mix is also notable. Per China Customs, machinery and electronics exports were 11.12 trillion yuan for January–July, up 21.2% and 63.8% of total exports. Low-carbon goods such as electric vehicles, lithium batteries and wind turbines rose 71.2%, 35.8% and 34.8% respectively, and July auto exports hit 1.092 million units, above one million for a second straight month. As China's exports tilt toward higher-value, greener products, Korea — a key supplier of the chips and core materials underpinning that supply chain — stands to benefit.

What it means for Korean businesses

For Korean firms in trade and manufacturing in Tianjin and across China, the data carry two messages. First, Korea–China supply-chain trade centered on chips, electronic components and core materials is likely to stay buoyant for now. Second, because much of the current strength rests on rising chip prices, building demand-based customers beyond IT — in areas such as agri-fisheries food and cosmetics — can cushion the volatility when memory prices cycle down.

Exact tariff and customs terms vary by product under the applicable agreements (Korea–China FTA, RCEP, and others), so it is safest to confirm with the relevant customs office, a KOTRA trade center, or a licensed customs broker before any deal.

※ This article is based on official trade statistics released by China's General Administration of Customs and the Korea Customs Service / Ministry of Trade, Industry and Energy. Figures follow the issuing agencies and may change if statistics are revised.