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Back|South Korea's exports nearly doubled in October thanks to AI investment, the largest increase in half a century
South Korea's exports nearly doubled in October thanks to AI investment, the largest increase in half a century
NEWS
中央社·1 hour ago·Business·2 min read·🇨🇳China·

South Korea's exports nearly doubled in October thanks to AI investment, the largest increase in half a century

Driven by strong global investment demand for artificial intelligence, exports of semiconductors and computers have surged, with annual exports expected to exceed the US$1 trillion mark.

Quick Look

  • South Korea's exports in October increased by 93.7% year-on-year to US$115.28 billion, the largest increase since 1974.
  • Mainly driven by strong demand for AI-related semiconductors and servers, exports to China and the United States have grown significantly.
  • The Ministry of Trade, Industry and Energy of South Korea predicts that the full-year export volume is expected to exceed the US$1 trillion milestone in November.

AI-generated summary

Why It Matters

South Korea's exports have been boosted by global AI investment demand, and demand for semiconductors and servers has grown significantly.

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(Central News Agency, Seoul, comprehensive foreign news report on the 1st) According to official data released today, South Korea’s exports in October almost doubled compared with the same period last year, setting the largest increase in more than 52 years. Thanks to strong global investment demand for artificial intelligence (AI), South Korea's chip shipments are booming.

Reuters reported that South Korea's Ministry of Trade, Industry and Energy announced that exports in October increased by 93.7% from the same period last year to US$115.28 billion, an increase from 83.7% in September and slightly higher than the median forecast of economists of 93.2%, marking the largest increase since January 1974. This is partly due to the fact that Korea has more working days due to the consecutive Mid-Autumn Festival holidays this year.

Among them, semiconductor exports surged 259.4% compared with October last year, reaching US$56.44 billion. The gains come as global technology giants continue to invest in equipment in order to compete for leadership in the AI ​​industry, driving semiconductor demand and prices to remain high.

In addition, driven by the growing demand for servers that provide AI services, South Korea's computer exports surged 496.6% in October compared with the same period last year.

From a regional perspective, South Korea's exports to China in October increased by 133.6% year-on-year, exports to the United States increased by 185.8%, and exports to Europe and Southeast Asia increased by 56.4% and 128.0% respectively.

South Korea's exports from January to October this year have now reached 930 billion US dollars. Kim Jung-kwan, Minister of Industry, Trade and Energy of South Korea, said today that exports this year are expected to reach the US$1 trillion threshold within November.

If South Korea's annual exports exceed US$1 trillion, it will become the fourth country in the world to reach this milestone after the United States, China and Germany.

What to Watch

AI outlook — possibilities, not facts

  • South Korea's full-year exports will exceed US$1 trillion in November.

    Likely · Within weeks

Open Questions

  • ?Will the export volume in November successfully exceed the US$1 trillion threshold?

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This article was originally published by 中央社.

Quick Look

  • South Korea's exports in October increased by 93.7% year-on-year to US$115.28 billion, the largest increase since 1974.
  • Mainly driven by strong demand for AI-related semiconductors and servers, exports to China and the United States have grown significantly.
  • The Ministry of Trade, Industry and Energy of South Korea predicts that the full-year export volume is expected to exceed the US$1 trillion milestone in November.

AI-generated summary

Story signals

News tone
Positive
Emotional intensity
High
News value
High
Global impact
Global
Follow-up likelihood
Likely
Relevance window
Weeks

Source & Reliability

Source
中央社
Story type
Hard news
Source quality
Full
Published
1 hour ago
View original
South Korea
export
Semiconductor
South Korea
Kim Jong Kwan
Ministry of Industry, Trade and Energy of South Korea
central news agency
Reuters
China
United States
export
Semiconductor
artificial intelligence
economic data

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