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South Korea Exports Hit Record as AI Chip Demand Surges
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South Korea Exports Hit Record as AI Chip Demand Surges

By Editorial Team•Oct 1, 2026 · 5:45 AM•3 min read
AI-generated representative image: A technician works inside a South Korean semiconductor cleanroom, as AI chip demand drives record exports.
Editorial Team
Editorial Team
September semiconductor shipments drive record $120.9 billion in trade amid global memory chip shortage

South Korea's exports surged to a monthly record in September, jumping 83.5 percent year-on-year to $120.9 billion, as explosive demand for artificial intelligence chips powered the country's strongest trade performance on record, preliminary customs figures showed on Thursday.

The figure eclipsed the previous monthly record of $102.25 billion set in June, with semiconductor shipments accounting for nearly half of all exports, according to data from the Korea Customs Service.

The record underscores how South Korea, Asia's fourth-largest economy and home to two of the world's top memory chip makers, is emerging as a leading beneficiary of the global AI boom. The performance positions the country to potentially surpass $1 trillion in annual exports for the first time.

The surge matters beyond trade statistics, as it reflects a broader economic acceleration driven by a worldwide shortage of memory chips used in artificial intelligence systems.

Record-Breaking Trade Performance

  • Chip shipments soared more than 260 percent year-on-year to $60.3 billion, representing nearly half of September's total exports.
  • Total exports from January through September reached $814.5 billion, already exceeding the full-year 2025 record of $709.7 billion.
  • The country recorded a trade surplus of $49.85 billion during the first nine months of the year.
  • Nominal gross domestic product growth hit a five-decade high in the April-June quarter, rising 26.4 percent year-on-year.
  • The benchmark Kospi stock index has climbed nearly 60 percent this year, placing it among the world's best-performing markets.

South Korea's Semiconductor Strength

South Korea's economic momentum is rooted in its position as one of the world's largest semiconductor industries. The country is led by top memory chip makers SK Hynix and Samsung Electronics, which together control roughly 80 percent of the global market for high-bandwidth memory and 60 percent of the market for dynamic random-access memory, according to Counterpoint Research.

The current boom follows a period of robust export growth that saw 2025 become a record year with $709.7 billion in shipments. The Ministry of Finance and Economy has forecast real GDP growth of 3 percent in 2026, which would mark the strongest performance since 2017, excluding the outlier years of the COVID-19 pandemic.

Official Statements and Outlook

Trade and Industry Minister Kim Jeong-kwan credited the achievement to domestic industry and entrepreneurs. "This is a valuable achievement that once again demonstrates the strength of our industries and companies, and is thanks to the sweat and efforts of our entrepreneurs who have competed fiercely in the global market," Kim said in a statement.

Kim also cautioned that external pressures remain. "While we expect to achieve $1 trillion in annual exports, the strengthening of global protectionism and tensions in the Middle East remain major variables affecting our exports," he added.

What Lies Ahead

The preliminary customs figures confirm South Korea is on track for a potential $1 trillion in annual exports, a milestone the government expects to reach. However, officials have flagged global protectionism and Middle East tensions as key risks to monitor.

Further confirmation of the September figures and any updates to the government's trade outlook are expected as the year progresses.

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