In brief
South Korea’s exports surged 93.7 % to a record $115.3 billion in October, largely due to a 259 % jump in semiconductor shipments. The trade surplus widened to $42.5 billion, spurred by high demand from China and the United States for electronics, petroleum products, cosmetics, and automobiles.
On November 1, South Korea announced that its exports in October had reached a record $115.3 billion, marking a 93.7 % increase from the same month a year earlier.
Data from the Ministry of Trade, Industry and Resources shows the surge was led by a 259 % rise in semiconductor shipments, which now total $56.4 billion.
The country’s trade balance widened to a surplus of $42.5 billion as imports climbed 36 % to $72.78 billion.
Exports of petroleum products jumped 80 % to $6.92 billion, while petrochemical exports grew 27.5 % to $4.0 billion. Cosmetics exports rose 57.5 % to $1.44 billion. Automobile exports gained 18.1 % to $6.55 billion, boosted by increased overseas demand for gasoline‑hybrid models.
Key destinations included China, where exports surged 133.6 % to $26.98 billion—exceeding $20 billion for the fifth month in a row—and the United States, where shipments spiked 185.8 % to $24.9 billion, driven by demand for semiconductors, computers and AI‑related electrical equipment.
Experts at WAM attribute the boom to strong global demand for semiconductors and sustained investment in AI infrastructure by major technology firms.
