South Korea is on track to record its highest-ever trade surplus with the United States this year, surpassing $100 billion for the first time. The Ministry of Trade, Industry and Energy reported that the surplus reached $84.7 billion in the first nine months of 2026, already exceeding the previous annual record of $55.6 billion set in 2024. The surge is driven by strong exports of semiconductors, fueled by the growing demand for artificial intelligence (AI) technologies.
The expanding surplus raises concerns about potential trade tensions with the U.S. President Donald Trump's administration has previously imposed tariffs on Korean products due to dissatisfaction with the trade imbalance. In April 2025, the U.S. introduced a 25% mutual tariff on Korean goods, which was later reduced to 15% after South Korea committed to investing $350 billion in the U.S. in July 2025.
The current trade dynamics could reignite these pressures, as the Trump administration may use the record surplus as justification for new trade measures. Additionally, there is ongoing pressure from the U.S. to invest in Alaska's liquefied natural gas (LNG) development project, further complicating the trade relationship.