South Korea’s exports climbed to a record $120.9 billion in September, crossing the $120 billion mark for the first time as semiconductor shipments surged on global demand for artificial-intelligence infrastructure.
Official trade data showed exports rose 83.5% from a year earlier. Semiconductor shipments jumped to $60.3 billion, accounting for roughly half of the month’s total and setting a new record for the sector.
AI investment drives the trade surge
South Korea is home to major memory-chip producers that supply high-bandwidth memory and other components used in data centers and AI accelerators. The current investment cycle has sharply increased demand for those products.
Exports to both the United States and China rose strongly, while computer shipments also recorded triple-digit growth. Imports increased as well, but the country still posted a large trade surplus.
Annual exports are on track for a new high
Exports from January through September reached $814.5 billion, already above the previous full-year record cited by Reuters. The pace suggests 2026 could become the first year in which South Korea’s annual exports exceed $1 trillion, although the final outcome will depend on global demand and chip prices.
The figures support the Bank of Korea’s view that external demand remains a source of resilience. At the same time, higher borrowing costs and geopolitical risks continue to complicate the domestic outlook.
Sources: South Korea trade ministry data; Reuters; Bank of Korea outlook materials.
