Korea’s Early October Exports Double as Chip Shipments Set Record

South Korea’s exports more than doubled from a year earlier during the first 20 days of October, propelled by record semiconductor shipments and sharp gains across several major markets, according to customs data released Wednesday.

Outbound shipments totaled $61.6 billion from Oct. 1 through Oct. 20, the highest value ever recorded for that portion of October. The average export value per business day also reached $4.74 billion, setting a record for the first 20 days of any month.

Imports increased 42.8 percent year on year to $47.1 billion during the same period. That left South Korea with a trade surplus of $14.5 billion for the 20-day span, underscoring the strength of overseas demand relative to the rise in incoming goods.

Semiconductors accounted for the largest share of the expansion. Chip exports jumped 222.5 percent to a record $27.5 billion, representing 44.7 percent of all outbound shipments. That share was 16.2 percentage points higher than a year earlier, highlighting the growing weight of the sector in the country’s trade performance.

Other key export industries also posted substantial increases. Shipments of petroleum products rose 68.3 percent to $3.94 billion, while automobile exports advanced 40.9 percent to $3.35 billion. Steel product exports climbed 42.6 percent to $2.58 billion.

Growth was broad across South Korea’s major trading partners. Exports to China rose 154.4 percent to $16.6 billion, while shipments to the United States increased 154.9 percent to $10.7 billion. Exports to Vietnam gained 74.6 percent, and those to the European Union rose 78.2 percent.

The latest figures add to a strong year for Korean trade. From Jan. 1 through Oct. 20, cumulative exports reached $876.3 billion, up 59.5 percent from the same period a year earlier. South Korea’s accumulated trade surplus for the year stood at $266.9 billion.

The preliminary 20-day data offer an early snapshot rather than a full-month total, but the scale of the gains shows how strongly semiconductors are shaping the country’s export cycle. The final October figures will determine whether the momentum held through the remainder of the month.