S. Korea’s September Exports Hit Record $120.9 Billion

South Korea's September exports reached a record $120.9 billion, marking the first time the figure surpassed the $120 billion mark. Semiconductor exports alone surged to $60.3 billion, setting a new record for a single product category. This surge in semiconductor sales, driven by rising memory demand and higher prices, propelled the overall export growth.

According to the Ministry of Trade, Industry and Resources, exports increased by 83.5% year-on-year, outpacing the previous monthly record of $102 billion set in June. The average daily exports, adjusted for working days, hit a record $5.63 billion, surpassing the $5 billion threshold for the first time.

Semiconductors played a crucial role in this record performance, with exports soaring 262.8% year-on-year. The computer industry also experienced a significant boost, with exports jumping 435.3% to $7 billion, fueled by escalating demand for AI infrastructure. Wireless communication device exports continued their growth streak, now in its 11th consecutive month, driven by strong sales of premium models.

However, automobile exports declined by 5.5% year-on-year, mainly due to fewer working days during the Chuseok holiday and weak used-car exports, which saw a 5.5% increase on a daily-average basis, indicating sustained underlying growth.

Exports to major destinations such as China and the United States saw notable growth. Shipments to China amounted to $26.01 billion, largely driven by semiconductors and computers, maintaining a level above $20 billion for the fourth consecutive month. Exports to the United States reached $24.33 billion, boosted by growth in automobiles and general machinery.

Meanwhile, imports surged by 26.0% year-on-year to $71.09 billion. Energy imports, including crude oil, rose by 38%, while semiconductor equipment imports remained strong.

The trade surplus hit a record $49.85 billion, the first time it surpassed the $40 billion mark. Cumulative exports from January to September totaled $814.5 billion, surpassing the full-year 2025 export total of $709.3 billion. The government expressed optimism about achieving annual exports of $1 trillion if the current momentum persists through the fourth quarter.

However, Minister of Trade, Industry and Resources Kim Jung-kwan cautioned that external risks such as global protectionism and Middle East tensions remain key uncertainties. The government pledged to maintain communication with trade authorities in major economies to sustain export momentum.