In brief
In October, South Korea’s exports hit a record $115.3 billion, up 93.7% year‑over‑year, according to the Ministry of Trade, Industry and Resources. The surge was led by a 259% jump in semiconductor shipments, while exports to China and the United States climbed 133% and 186% respectively. The trade surplus widened to $42.5 billion as imports rose 36% to $72.78 billion.
South Korean exports reached a record $115.3 billion in October, up 93.7 percent from a year earlier, the Ministry of Trade, Industry and Resources said on Sunday. The spike was largely fueled by a 259‑percent climb in semiconductor shipments, which accounted for more than half of the total export value.
Key Drivers of the Export Surge
In addition to semiconductors, exports of petroleum products rose 80 percent to $6.92 billion, while petrochemicals grew 27.5 percent to $4.0 billion.
Cosmetics exports climbed 57.5 percent to $1.44 billion, and automobile exports were up 18.1 percent to $6.55 billion, led by demand for gasoline‑hybrid models overseas.
The trade surplus widened to $42.5 billion, as imports grew 36 percent to $72.78 billion. By destination, shipments to China surged 133.6 percent to $26.98 billion, marking the fifth straight month exceeding $20 billion. Exports to the United States increased 185.8 percent to $24.9 billion, buoyed by strong demand for semiconductors, computers and electrical equipment used in AI infrastructure.
