SEOUL, January 26 (AJP) - Vietnam remained South Korea’s third-largest trading partner for a fourth consecutive year as South Korean exports topped $700 billion for the first time last year, according to government and industry data released on Monday.
Vietnam also generated South Korea’s second-largest trade surplus, after the United States.
South Korea’s exports to Vietnam rose 7.6 percent from a year earlier to $62.8 billion in 2025, data from the Ministry of Trade, Industry and Energy and the Korea International Trade Association (KITA) showed. Imports from Vietnam increased 11.7 percent to $31.8 billion, lifting total bilateral trade 9 percent to $94.5 billion from $86.8 billion a year earlier.
By trade volume, Vietnam ranked third among South Korea’s trading partners, behind China at $272.7 billion and the United States at $196.2 billion.
Vietnam overtook Japan in 2022 to become South Korea’s third-largest trading partner and has held that position for four straight years. Its export growth rate of 7.6 percent ranked second among major destinations, behind Taiwan’s 44.4 percent, which officials attributed to Taiwan’s role as a hub for artificial intelligence semiconductor production.
South Korea recorded a $31 billion trade surplus with Vietnam last year, its second-largest after a $49.5 billion surplus with the United States. Vietnam briefly became South Korea’s top surplus market in 2022, with $34.2 billion, and has ranked second for the past three years.
Officials said the expansion was driven largely by strong semiconductor exports. South Korea’s semiconductor shipments to Vietnam surged 36.7 percent from a year earlier to $24.7 billion, supported by growing global investment in artificial intelligence and data centers.
Trade between South Korea and Vietnam has expanded sharply since the two countries established diplomatic relations in 1992. Two-way trade has increased about 190-fold from roughly $500 million, with the trade structure shifting from labour-intensive goods such as textiles and apparel to higher-value products including semiconductors and wireless communications equipment.
Following the signing of a bilateral free trade agreement in 2014, trade more than tripled from around $30 billion to $94.5 billion. Exports of consumer goods linked to the Korean Wave, including cosmetics and food products, have also risen.
South Korea is also a key trading partner for Vietnam. Based on Vietnam Customs data analysed by KITA, South Korea ranked as Vietnam’s second-largest source of imports and fourth-largest export destination from January through November last year.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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