SEOUL — South Korea’s record-high trade surpluses with the United States will gradually narrow as companies continue to invest in the US market, the country’s biggest exporter group said on Thursday.
“There is a high possibility of trade imbalances between South Korea and the United States gradually easing on continued and prolonged investments in the country,” Korea International Trade Association (KITA) said in a report.
In 2024, 46.8 percent of US imports from South Korea were intermediate goods shipped to the country for direct investments, according to KITA.
South Korea earned a surplus of $55.6 billion from trade with the US in 2024, up 25 percent from 2023 and a record high, led by rising car exports, according to Korea Customs Service data.
