South Korea’s exports reached $115.28 billion in October, the second-highest monthly total on record after September’s $121.1 billion, as surging semiconductor demand linked to artificial intelligence investment lifted shipments. Exports rose 93.7% from a year earlier, accelerating from September’s 83.7% increase, while average daily exports climbed 76% to $5.24 billion after adjusting for working days affected by the timing of the Chuseok holiday. Cumulative exports reached $930 billion from January through October, surpassing $900 billion for the first time and raising expectations that annual shipments will exceed $1 trillion in November if the current pace holds. Semiconductor exports jumped 259.4% to $56.44 billion, supported by high prices, strong volumes and continued facility investment by major global technology companies. Computer exports soared 496.6% to $5.85 billion as demand for server solid-state drives increased. Wireless communication device exports rose 6.7%, extending their gains to 12 consecutive months. Automobile exports increased 18.1% to a record $6.55 billion for October, while electrical equipment exports rose 74% to $1.99 billion on demand for transformers, wires and cables used in AI data centers. Cosmetics, agricultural and fisheries products, and bio-health exports also reached October records. Exports rose in 18 of the country’s top 20 categories and increased in seven of nine major markets, including China, the United States and the Association of Southeast Asian Nations. Imports rose 36% to $72.78 billion, producing a $42.5 billion trade surplus, while the January-to-October surplus reached $294.9 billion. President Lee Jae-myung welcomed the milestone on November 1, thanking business leaders and production-line workers and pledging to expand economic opportunities through pragmatic diplomacy focused on national interests. He also urged Koreans to build the global "K" brand of Korean culture and products. The remark was interpreted as an indirect response to opposition criticism of his overseas travel, including a parliamentary reference to his 23 visits across 14 trips. The robust trade performance strengthens the case for the Bank of Korea to consider raising interest rates, although weak household demand and uneven gains from the technology boom remain challenges before its November policy decision.