South Korea’s exports surge nearly 94 percent amid AI investment boom

By the Editorial Team · Monday, November 2, 2026

South Korea’s exports in October surged by 93.7 percent year-over-year to $115.28 billion, driven chiefly by a massive rise in semiconductor and computer shipments related to AI technologies. This rapid growth, the fastest since 1974, positions South Korea to potentially exceed $1 trillion in exports for 2026, making it the fourth nation to reach this milestone globally.

South Korea’s exports nearly doubled in October, marking the largest increase in over five decades, driven largely by strong demand for artificial intelligence (AI) related products, according to government data released Sunday. The country’s shipments rose 93.7 percent from the same month last year to $115.28 billion, slightly surpassing economists’ forecasts in a Reuters poll that anticipated a 93.2 percent increase.

This surge in exports, which followed a significant 83.7 percent gain in September, was supported in part by the calendar effect of more working days compared to the previous year due to the timing of the Chuseok holidays. It represents the fastest monthly export growth since January 1974.

South Korea’s export boom has been primarily fueled by the semiconductor industry amid a global upswing in AI investments. Major chipmakers Samsung Electronics and SK Hynix have reported substantial profit growth as they benefit from rising demand for semiconductors used in AI technologies. Semiconductor exports soared 259.4 percent in October to $56.44 billion, maintaining high prices and volumes as international technology companies continue to invest heavily in AI infrastructure.

Computer exports, driven by demand for servers supporting AI applications, experienced an even sharper increase, jumping 496.6 percent. The trade ministry noted robust sales growth across major markets, with shipments to China increasing 133.6 percent, the United States by 185.8 percent, Europe by 56.4 percent, and Southeast Asia by 128.0 percent.

For the first ten months of 2026, South Korea posted exports totaling $930 billion. If the current trend persists, annual exports could surpass $1 trillion by November, which would place South Korea as the fourth country worldwide to achieve this milestone after the United States, China, and Germany. Kim Jung-kwan, South Korea’s Minister of Trade, Industry and Energy, highlighted the likelihood of reaching this record figure given the continuing strong export performance.

Imports also rose significantly, increasing 36.0 percent to $72.78 billion in October after a 26.0 percent gain in September. This growth is attributed to higher crude oil prices alongside increased demand for semiconductor manufacturing equipment and automobiles. South Korea recorded a monthly trade surplus of $42.50 billion, a narrowing from the record $49.97 billion surplus seen in September.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.