<p>This paper investigates the relationship between the extensive margin of trade, common trade exposure, and GDP comovement by analyzing a panel sample of South Korea and its trading partners from 1992 to 2021. The findings indicate that pairs of South Korea and its trading partners that trade a wider variety of goods (reflecting a higher extensive margin of trade) and maintain stronger connections with similar partners (indicating greater common trade exposure) experience enhanced GDP comovement. This paper highlights that the correlations between the GDPs are significantly influenced not only by the extensive margin of trade but also by common trade exposure to third countries. The effect of international trade on GDP comovement is markedly stronger when considering both direct bilateral trade connections and indirect linkages through trade networks, as supported by earlier research.</p>