South Korea exports nearly double in October on AI investment boom

South Korea’s October exports climbed 93.7% year on year to $115.28 billion, their biggest increase since January 1974, Business Recorder reported, citing government figures. The rise topped the 93.2% growth forecast in a Reuters poll and followed an 83.7% increase in September. A calendar effect from the Chuseok holiday timing also lifted the annual comparison.

Semiconductor shipments surged 259.4% to $56.44 billion as global investment in AI infrastructure supported demand, while computer exports jumped 496.6% amid stronger server requirements. Exports over January to October reached $930 billion, and the trade minister said the annual total was on course to pass $1 trillion within November. Imports increased 36.0% to $72.78 billion, leaving a monthly surplus of $42.50 billion, below September’s record $49.97 billion.