SEOUL: South Korea’s exports have jumped 93.7% to a record US$115.3bil in October from a year earlier, driven largely by a sharp increase in semiconductor shipments, according to data.
Strong global demand for semiconductors, coupled with continued investments by major technology companies in artificial intelligence (AI) infrastructure, boosted overall exports, the Trade, Industry and Resources Ministry said last Sunday.
Imports rose 36% from a year earlier to US$72.78bil, resulting in a trade surplus of US$42.5bil.
Cumulative exports for the January to October period exceeded US$900bil for the first time, with the ministry projecting that the country’s annual exports could reach US$1 trillion as early as November if the current trend continues.
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• South Korea recorded a record US$115.3 billion in exports for October 2026, marking a 93.7% year-on-year surge driven primarily by a 259% spike in semiconductor sales to US$56.4 billion.
• The country achieved a US$42.5 billion trade surplus as imports rose 36% to US$72.78 billion, with cumulative exports for January through October exceeding US$900 billion for the first time.
• Government projections indicate that annual exports could reach the US$1 trillion milestone as early as November if current momentum in AI infrastructure and chip demand persists.
• Key export destinations saw significant growth, with shipments to the United States surging 185.8% to US$24.9 billion and exports to China jumping 133.6% to US$26.98 billion, both fueled by strong semiconductor demand.
• Industry Minister Kim Jung-kwan warned that the global trade environment remains uncertain due to rising protectionism and geopolitical tensions, prompting the government to intensify trade cooperation to support small and medium-sized enterprises.
