Semiconductors Pull GDP Up by 1.7%, But Why Doesn't the Economy Feel It? — Dissecting the Illusion of South Korea's Economic Structure

Amid a structural bias where a single item, semiconductors, accounts for 46% of total exports, the temperature gap between the vitality of logistics sites and the domestic economic sentiment is wider than ever. As of May 12, 2026, the numbers surrounding the South Korean economy are fractured. According to the preliminary import and export data for May 1–10 released by the Korea Customs Service on this day, exports during this period reached $18.4 billion, surging 43.7% compared to the same period last year and breaking the all-time record for May 1–10. Semiconductors are undoubtedly at the center of this trend. Semiconductor exports surpassed $8.5 billion, skyrocketing 149.8% year-on-year to record the highest-ever performance for the same period in May. Semiconductors' share of total exports jumped 19.7 percentage points from a year ago to 46.3%. Looking at the figures alone, South Kor…