South Korea’s exports reached a record US$115.3 billion in October, a 93.7 % increase from the same month a year earlier, according to the Ministry of Trade, Industry and Resources reporting data released by WAM. The rise was largely driven by a sharp surge in semiconductor shipments, which grew 259 % from year‑earlier levels to US$56.4 billion.
Other sectors also contributed sizable gains: petroleum products rose 80 % to US$6.92 billion, petrochemical goods increased 27.5 % to US$4 billion, cosmetics jumped 57.5 % to US$1.44 billion, and automobile exports gained 18.1 % to US$6.55 billion, driven by extra demand for gasoline‑hybrid models.
Exports to key destinations shifted markedly, with shipments to China surging 133.6 % to US$26.98 billion and to the United States climbing 185.8 % to US$24.9 billion. The strong demand for semiconductors, computers and electrical equipment used in AI infrastructure underpinned the U.S. growth.
Imports also rose 36 % from a year earlier to US$72.78 billion, leaving the Republic of Korea with a trade surplus of US$42.5 billion for October, the ministry said. This surplus represents the widest gap between imports and exports for the country in recent years.
Sectoral analysis shows that semiconductor exports, accounting for nearly 49 % of total exports, were the major driver of the annual spike. The industry’s growth is tied to the global semiconductor boom and continued investment by major technology companies in artificial intelligence infrastructure, the ministry noted.
Stability in cosmetics exports, with a 57.5 % jump, reflects sustained demand for Korean beauty products abroad, while the rise in petroleum product exports highlights the country’s role as a key supplier of energy inputs in Asia.
Auto exports benefitted from increased international demand for hybrid vehicles, a trend that aligns with global efforts to phase out pure‑gasoline models in favor of greener alternatives. The 18.1 % gain in auto exports underscores South Korea’s expanding presence in the hybrid segment.
The significant uptick in exports to China, now surpassing US$20 billion for the fifth consecutive month, signals a resilient economic relationship between the two economies despite geopolitical tensions in the region. Meanwhile, the U.S. market remains a critical partner, especially in high‑tech components, with a surge in shipments amounting to nearly US$25 billion.
Overall, the latest data portray a robust export trajectory for South Korea, underpinned by key export categories and strong demand from the most important trade partners. The ministry’s report points to sustained growth potentials, particularly in semiconductors and AI‑related equipment, while also highlighting increased competitiveness in the automotive and chemical sectors. The widening trade surplus indicates a healthy export‑import balance, suggesting performed resilience in a changing global market landscape.
