In brief
In October, South Korea exported $115.3 billion—its highest monthly total ever—thanks largely to a 259‑percent jump in semiconductor exports reported by the Ministry of Trade, Industry and Resources. The Bank of Korea announced a more modest 18‑percent year‑over‑year rise, illustrating differing estimates of the country’s trade performance. The country also posted a $42.5 billion trade surplus, a figure confirmed only by the ministry data.
South Korea’s exports reached a record $115.3 billion in October, a figure confirmed by the Ministry of Trade, Industry and Resources and the Bank of Korea, according to data released on Thursday.
The surge was driven primarily by a sharp increase in semiconductor shipments, with the ministry reporting a 259‑percent rise on‑year to $56.4 billion, roughly one‑third of the country’s total export value. Meanwhile, the Bank of Korea noted that overall export growth climbed 18 percent from the same month a year earlier, a figure that differs from the ministry’s 93.7‑percent increase.
In addition to chips, exports of automotive parts and consumer electronics saw modest gains, but their share remained smaller than that of the semiconductor sector, according to the bank’s release.
Imports also climbed 36 percent from a year earlier, rising to $72.78 billion, resulting in a trade surplus of $42.5 billion. This surplus figure is confirmed by ministry data but is not mentioned in the bank’s statement.
Containers filled with exporting goods are stacked at a Pyeongtaek port, 60 kilometers south of Seoul, reflecting the country’s robust supply‑chain resilience amid global demand for technology components, the bank said.
