South Korea Exports Surge 93.7 Percent as Chip Boom Hits Record Pace
(MENAFN) South Korean exports nearly doubled in October, propelled by an unprecedented surge in global demand for semiconductors, government figures released Sunday showed.
Outbound shipments, which make up roughly half of the export-dependent economy, jumped 93.7 percent year on year to 115.28 billion U.S. dollars, according to the Ministry of Trade, Industry and Resources.
The result was the second-highest monthly total on record, trailing only September’s all-time peak of 121.1 billion dollars.
Chips led the charge. Semiconductor exports soared 259.4 percent to 56.44 billion dollars as sustained spending on artificial intelligence (AI) infrastructure drove up memory chip prices.
Cumulative exports for the first 10 months of 2026 reached 930 billion dollars, leaving the country poised to break the historic 1 trillion dollar annual mark by November.
Imports climbed 36.0 percent to 72.78 billion dollars in October, producing a trade surplus of 42.50 billion dollars.
Outbound shipments, which make up roughly half of the export-dependent economy, jumped 93.7 percent year on year to 115.28 billion U.S. dollars, according to the Ministry of Trade, Industry and Resources.
The result was the second-highest monthly total on record, trailing only September’s all-time peak of 121.1 billion dollars.
Chips led the charge. Semiconductor exports soared 259.4 percent to 56.44 billion dollars as sustained spending on artificial intelligence (AI) infrastructure drove up memory chip prices.
Cumulative exports for the first 10 months of 2026 reached 930 billion dollars, leaving the country poised to break the historic 1 trillion dollar annual mark by November.
Imports climbed 36.0 percent to 72.78 billion dollars in October, producing a trade surplus of 42.50 billion dollars.
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