South Korea exports nearly double as chip shipments surge

South Korea’s exports rose 93.7% from a year earlier in October to a record $115.28 billion, the trade ministry said on Sunday. The unusually large gain partly reflects the timing of the Chuseok holiday, which left more working days this October than a year ago. It also captures strong external demand tied to investment in artificial intelligence infrastructure.

Semiconductor exports increased 259.4% to $56.44 billion, while computer shipments rose almost sixfold. Imports climbed 36% to $72.78 billion, producing a record monthly trade surplus of about $42.5 billion. Yonhap and Reuters reported the same ministry data. Because the calendar effect magnifies the annual comparison, the headline growth rate should not be read as a normal monthly pace.

Exports reached about $930 billion in the first ten months of 2026. Trade Minister Yeo Han-koo said the annual total could pass $1 trillion in November, but that remains a forecast. The underlying signal is nevertheless consequential: memory chips and other technology goods are giving Asia’s fourth-largest economy a powerful export lift, while its exposure to the global semiconductor cycle remains unusually high.