South Korea exports hit record $120.9 billion driven by AI chip demand

South Korea's exports reached a record monthly high of $120.94 billion in September, marking an 83.5% increase compared to the previous year. This surge was primarily driven by a massive spike in semiconductor demand, fueled by the global expansion of artificial intelligence infrastructure.

Semiconductor exports alone hit a record $60.3 billion, representing a 262.8% year-on-year increase. These components, produced by major firms such as Samsung Electronics and SK hynix, account for nearly half of the country's total monthly exports. Other sectors also saw significant growth, including computers, cosmetics, and electrical equipment.

Cumulative exports for the first nine months of the year have surpassed $814 billion, already exceeding the total for the entire previous year. Officials suggest that South Korea is on track to potentially reach its first-ever $1 trillion annual export milestone by late November or early December.