South Korea exports top $120 billion for first time on AI semiconductor demand

  • South Korea’s exports rose 83.5% to a record $120.94 billion in September.
  • Semiconductor exports surged 262.8% to $60.3 billion, comprising 49.9% of shipments.
  • KITA provided discounted logistics capacity and tariff support as exports approached $1 trillion.

South Korea’s exports rose 83.5% from a year earlier to a record $120.94 billion in September, exceeding $120 billion for the first time as semiconductor demand drove shipments. Semiconductor exports surged 262.8% to $60.3 billion, accounting for 49.9% of exports, while average daily exports climbed 104.9% to $5.63 billion despite fewer working days during the Chuseok holiday. January-to-September exports reached $814.5 billion, surpassing the previous annual record of $709.3 billion and putting the country on course to potentially join the $1 trillion export club after Germany, the United States and China. Imports increased 26.0% to $71.09 billion, generating a record $49.85 billion trade surplus. The Korea International Trade Association, which represents about 80,000 members, has supported exporters with tariff analysis, discounted shipping and air-cargo capacity, and plans an artificial intelligence-based trade platform. Trade Minister Kim Jung-kwan said the September result demonstrated the strength of South Korean industries and companies and expressed confidence in reaching $1 trillion in annual exports.

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