During the Iran war, South Korea's export growth accelerated in March.

South Korea's export growth accelerated in March, bringing some relief to the trade-reliant economy amid escalating risks from the conflict in the Middle East. The trade surplus hit a monthly record high, driven by strong demand for semiconductor shipments, which have been a key growth engine for the Korean economy amidst last year's trade turmoil related to tariffs. A sharp drop in shipments of liquefied petroleum gas highlighted the impact of disruptions in Middle Eastern energy and shipping. Due to stagnant shipping through the Strait of Hormuz since late February, causing supply shortages, South Korea implemented temporary export restrictions on LPG last week. According to preliminary data released by the Korean Ministry of Trade, Industry and Energy on Wednesday, South Korea, as the fourth largest economy in Asia, saw a 48.3% year-on-year increase in exports in March, reaching $86.13 billion; the growth rate for February exports was revised to 28.7%. Imports increased by 13.2% year-on-year, reaching $60.4 billion, resulting in a record trade surplus of $25.74 billion. South Korea's revised trade surplus for February was $15.38 billion. Rising chip prices and an extra working day compared to the same period last year were the main factors driving strong growth in March's trade.