Seoul:The Republic of Korea's exports experienced a remarkable increase of 93.7 percent, reaching a record US$115.3 billion in October compared to the previous year. This surge was primarily fueled by a significant rise in semiconductor shipments.

According to Wam, imports in October rose by 36 percent year-on-year to US$72.78 billion, resulting in a trade surplus of US$42.5 billion.

The Ministry of Trade, Industry and Resources highlighted that the strong global demand for semiconductors, along with ongoing investments by major technology firms in artificial intelligence infrastructure, contributed significantly to the overall export growth. Semiconductor exports alone skyrocketed by 259 percent from the previous year, amounting to US$56.4 billion.

Additionally, exports of various other products witnessed substantial growth. Petroleum products saw an 80 percent rise to US$6.92 billion, while petrochemical products increased by 27.5 percent to US$4 billion. The cosmetics sector also saw a 57.5 percent surge, reaching US$1.44 billion. Automobile exports grew by 18.1 percent to US$6.55 billion, spurred by rising international demand for gasoline hybrid models.

The export destinations played a crucial role in this growth, with shipments to China soaring by 133.6 percent to US$26.98 billion, marking the fifth consecutive month where exports to China exceeded US$20 billion. Meanwhile, exports to the United States surged by 185.8 percent, reaching US$24.9 billion, driven by strong demand for semiconductors, computers, and electrical equipment utilized in AI infrastructure.