Semiconductor Exports Drive Record Surge in South Korea's Reserves - 조선일보

South Korea's foreign exchange reserves reached a record high of $44.23 billion at the end of August 2026, driven primarily by substantial dollar inflows from semiconductor exports. Companies like Sam... Read original →

The surge in semiconductor exports has driven South Korea's foreign exchange reserves to a record high of $44.23 billion, reflecting a structural shift in the global chip supply chain. The inflow of U.S. dollars from Samsung and SK Hynix has significantly boosted bank deposits, prompting the central bank to offer 3.5–3.75% interest rates to absorb excess liquidity. This move is not merely a monetary policy response but a strategic adjustment to global dollar oversupply. Upstream suppliers may benefit from increased capital for expansion, while downstream sectors face rising input costs. Regulatory risks intensify as U.S. export controls tighten, forcing South Korean firms to restructure supply chains and seek third-party partnerships. In the market博弈, Japan and the U.S. may exploit exchange rate volatility to undermine the won’s stability. Over the next 12–24 months, if global semiconductor demand softens, South Korea could face capital outflows, requiring careful balance between interest rates and liquidity. The growing share of non-dollar assets in reserves signals a strategic pivot toward financial diversification.