South Korea’s exports reached a monthly record of $115.3 billion in October, rising 93.7 percent from a year earlier as semiconductor shipments surged. The result was supported by strong global chip demand and artificial intelligence infrastructure investment by major technology companies.
Semiconductor exports more than tripled to $56.4 billion, an increase of 259 percent. Other major contributors also recorded gains: petroleum products rose 80 percent to $6.92 billion, while petrochemical exports increased 27.5 percent to $4 billion. Automobile exports grew 18.1 percent to $6.55 billion as overseas demand for gasoline hybrid models strengthened.
Exports to China increased 133.6 percent to $26.98 billion, and shipments to the United States rose 185.8 percent to $24.9 billion. Exports to Southeast Asia and the European Union also increased, by 128 percent and 56.4 percent respectively. Cosmetics exports reached $1.44 billion, up 57.5 percent on demand from China, the United States and the European Union.
Imports rose 36 percent to $72.78 billion, leaving a trade surplus of $42.5 billion. Cumulative exports for January through October exceeded $900 billion for the first time, and the government said the annual total could reach $1 trillion in November if the trend continues. The Industry Ministry cautioned that stronger protectionism, supply-chain changes and geopolitical tensions in the Middle East could still weigh on smaller companies.