South Korea’s exports rose 83.5% from a year earlier to a record $120.9 billion in September, the first month they have topped $120 billion, Korea JoongAng Daily reported, citing trade ministry data released Thursday in Seoul. Semiconductor shipments more than tripled to $60.3 billion, accounting for roughly half of everything the country sold abroad.

What Happened

Chip exports climbed about 263% to $60.3 billion, the first time they have exceeded $60 billion in a single month. The Ministry of Trade, Industry and Resources attributed the jump to both larger shipment volumes and higher prices as demand for memory chips rose. Seoul Economic Daily reported that memory alone rose 358.6% to $54.07 billion.

Imports increased 26% to $71.09 billion, producing a trade surplus of $49.85 billion, the largest on record for a single month. Reuters, as carried by AOL, said the export gain beat economists’ forecasts of about 62% and marked the 16th straight month of growth.

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Other AI-linked products also surged. Computer exports rose 435.3% to $7 billion and solid-state drives 532% to $6.77 billion, according to Seoul Economic Daily. Petroleum products climbed 72% to $7.22 billion, and cosmetics rose 31.4% to a record $1.51 billion. Car exports fell 5.5% to $6.05 billion, which the ministry blamed on fewer working days around the Chuseok holiday.

Where the Goods Went

Shipments to China rose about 123% to $26 billion, the fourth straight month above $20 billion. Exports to the United States rose 137% to $24.33 billion, and those to Southeast Asia climbed 92.6% to $21.29 billion, according to Seoul Economic Daily.

Why It Matters

Korea publishes its trade figures on the first day of each month, which makes them one of the earliest hard readings on global chip demand. Samsung Electronics and SK hynix are two of the world’s three big memory makers, and both supply the high-bandwidth memory and DRAM used in AI servers. A month in which memory exports more than quadrupled shows how much of the current AI build-out is flowing through Korean factories, and how much pricing power memory suppliers have regained.

The concentration cuts both ways. With chips at roughly half of exports, the country’s trade performance now depends heavily on how long data center spending stays at current levels.

Context

Exports for January through September reached $814.5 billion, already above the full-year record of $709.3 billion set in 2025, Reuters reported. Seoul Economic Daily said the ministry calculates that $185.5 billion in fourth-quarter exports would push the annual total past $1 trillion. Industry Minister Kim Jung-kwan said rising global protectionism and tension in the Middle East remain major uncertainties for exports.

What to Watch

Samsung’s preliminary third-quarter earnings, typically released in the first week after the quarter closes, will be the next check on memory pricing. Monthly export data for October and November will show whether Korea crosses the $1 trillion mark, and whether autos recover once holiday timing effects pass.