[Sejong = E-Daily Reporter Ha Sang-yeul ] The phenomenon of “unprecedented concentration”—in which just 10 companies account for more than half of South Korea’s exports—is intensifying. Following the first quarter, when trade concentration exceeded 50% for the first time ever amid the semiconductor supercycle, export dependence on a small number of companies surged even more sharply in the second quarter, signaling a trend toward the institutionalization of “K-shaped growth.”

According to the “Trade Statistics by Corporate Characteristics for the Second Quarter of 2026 (Preliminary)” released on the 11th by the National Data Agency and the Korea Customs Service, the trade concentration of the top 10 exporters in the second quarter of this year stood at 55.3%. This represents a 17.0 percentage point increase compared to the same quarter of the previous year. The trade concentration of the top 100 companies also rose by 10.0 percentage points to 76.3%.

The trend of exports becoming increasingly concentrated among a small number of large corporations is becoming more pronounced with each passing quarter. The export concentration of the top 10 companies rose from 38.3% in the second quarter of last year to 40.5% in the third quarter and 43.4% in the fourth quarter. Following the first-ever breach of the 50% mark in the first quarter (50.1%), the figure soared to 55.3% in the second quarter, marking a steep upward trend for four consecutive quarters.

Exports by the top 10 companies in the second quarter totaled $152.3 billion, a 127.0% surge compared to the same period last year. This represents an overwhelming growth rate that far exceeds twice the growth rate of South Korea’s total exports (57.3%) during the same period.

Semiconductors were the driving force behind this unprecedented concentration of growth. Looking at export performance by industry, exports in the electrical and electronics sector reached $160.4 billion, a 109.8% increase compared to the same quarter last year. In effect, the electrical and electronics industry—led by semiconductors—drove the overall export growth rate.

In contrast, exports of consumer goods—which are closely tied to domestic demand—stagnated, deepening the shadow of K-shaped growth. Second-quarter exports of consumer goods fell by 0.5% compared to the same quarter last year. Although exports of non-durable consumer goods, such as cosmetics, increased, the decline in exports of durable consumer goods, such as automobiles, had a significant impact. In particular, consumer goods exports by large corporations fell by 8.9%, marking the fifth consecutive quarter of negative growth since the second quarter of last year (-13.8%).

On the import side, there was no significant concentration. The trade concentration ratio of the top 10 importers in the second quarter stood at 31.5%, rising by only 2.4 percentage points compared to the same quarter last year.