South Korean exports to Japan shrank 11.7 percent to $25.09 billion in 2020 from 2019 due to a pandemic-triggered plunge in petrochemical and steel products shipments, falling export prices, and low oil costs.
Japan, once South Korea's top export destination, with its share reaching 38.5 percent in 1973, accounted for 4.9 percent of South Korea's overall overseas shipments last year.
South Korea's shipments to Japan began to drop as its exports to China soared, and the yen remained high.
According to the Korea International Trade Association, South Korea's top export market last year was China at $132.55 billion for a 25.8 percent share, trailed by the US with $74.16 billion for 14.5 percent.
The third was Vietnam with $48.54 billion for 9.5 percent, followed by Hong Kong with $30.66 billion for 6 percent, and Taiwan with $16.46 billion for 3.2 percent.


Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026
Oil Prices Stabilize at Start of 2026 as OPEC+ Policy and Geopolitical Risks Shape Market Outlook
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy
South Korea Factory Activity Returns to Growth in December on Export Rebound
U.S. Stock Futures Slip as Year-End Trading Turns Cautious
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns
U.S. Dollar Starts 2026 Weak as Yen, Euro and Sterling Hold Firm Amid Rate Cut Expectations
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets
South Korea Exports Hit Record High as Global Trade Momentum Builds
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 



