South Korea's exports jump 93.7% to a record $115.3 billion in October on chip demand

Chip exports reached $56.44 billion as large technology companies kept investing in AI infrastructure, the ministry said. Imports rose 36% to $72.78 billion, leaving a trade surplus of $42.5 billion. Exports to China rose 133.6% to $26.98 billion and shipments to the United States rose 185.8% to $24.9 billion, Yonhap reported.

Exports for January to October totaled $930 billion, the first time the 10-month figure has passed $900 billion. Trade Minister JK Kim said annual exports are set to reach $1 trillion in November.

Why it matters: Yonhap describes semiconductors as a key pillar of South Korea's economy, and the ministry attributed the surge to demand tied to AI investment. Seoul stocks rose 2.24% on Monday, Yonhap reported.