South Korea October Exports Nearly Double in Strongest Growth Since 1974 on AI Chip Surge

South Korea's exports nearly doubled in October, posting their strongest annual growth rate since 1974 as a relentless boom in global artificial intelligence investment drove semiconductor shipments to new highs. The surge extended what has become a remarkable and sustained rally for the trade-reliant economy, with exports recording their 17th consecutive monthly gain.

The scale of the AI-driven demand was visible in the early-October data that foreshadowed the full monthly result: semiconductor exports in the first 20 days of the month surged 263% from a year earlier, while computer exports rose 435%. Chip shipments to the United States climbed 154% and those to China rose 155%, underscoring that demand was broad-based across major trading partners. Semiconductors now account for roughly half of South Korea's total export value, with Samsung Electronics and SK Hynix leading the surge.

The October result follows a September in which exports rose 83.5% year-on-year to a record $120.9 billion, and comes days after data showed the South Korean economy grew more than three times faster than expected in the third quarter, with exports soaring 218.7% year-on-year to $148 billion in that period alone. South Korea's total exports for the year have already surpassed the country's previous full-year record set in 2025. Analysts have noted the economy's heavy concentration in semiconductors as both the engine of its outperformance and a key vulnerability should global AI spending slow.