South Korea’s September Exports Reach Record $120.9 Billion on Chip Surge

South Korea’s exports surged to a monthly record of $120.9 billion in September, powered by unprecedented semiconductor shipments, government data showed Thursday.

Outbound shipments increased 83.5 percent from a year earlier, according to the Ministry of Trade, Industry and Resources. Semiconductor exports exceeded $60 billion for the first time, accounting for nearly half of the country’s total export value during the month.

The figures underline the central role of chips in South Korea’s trade performance. The country is home to major memory semiconductor producers and depends heavily on overseas demand for technology products. September’s result shows how a sharp increase in chip shipments can lift the broader export total and strengthen the national trade balance.

Imports also rose substantially, climbing 26 percent year on year to $71.09 billion. Because exports increased much faster than imports, South Korea recorded a trade surplus of $49.85 billion, the largest monthly surplus on record.

The scale of the surplus indicates that the export expansion was strong enough to outweigh the simultaneous rise in the country’s import bill. It also places semiconductor demand at the center of the latest monthly trade data, with chip exports alone surpassing a threshold never previously reached.

The September figures provide an important snapshot of the export-dependent economy at the end of the third quarter. Strong overseas sales can support industrial production and corporate earnings, while a wider trade surplus can also affect broader assessments of external demand and the country’s economic momentum.

At the same time, the concentration of the increase in semiconductors highlights South Korea’s exposure to changes in the global chip cycle. Demand for memory and other advanced components can shift quickly with investment by technology companies, inventories and conditions in major overseas markets.

The trade ministry’s monthly data showed that both sides of commerce expanded from a year earlier, but exports rose by a much greater margin. The result was a record export total, a first-ever monthly chip export figure above $60 billion and an unprecedented trade surplus — three milestones reached in the same month.

More detailed trade figures will help clarify how broadly the gains were distributed across products and destinations. For September, however, the headline result was clear: record semiconductor sales drove South Korea’s exports and trade balance to new highs.