Supported by demand for AI chips: South Korea's exports jump 93.7%

South Korea's exports surged 93.7% in October 2026 compared to the same month last year, reaching $115.28 billion, the fastest growth rate since January 1974, driven by global demand for artificial intelligence chips.

South Korea's exports jumped 93.7% in October 2026 compared to the same month last year, reaching $115.28 billion, marking the fastest growth rate since January 1974. This surge was driven by increasing global demand for AI chips, according to data from the Ministry of Trade, Industry and Energy. Semiconductor exports were the main driver, rising 259.4% year-on-year to $56.44 billion. The timing difference of the Chuseok holiday between the two years also increased working days, boosting shipment value. Excluding this effect, average daily exports rose 76% to $5.24 billion, reflecting continued strong external demand. South Korea recorded exports exceeding $110 billion for the second consecutive month, while 18 out of 20 major product categories tracked by the ministry saw increases.