(LEAD) S. Korea's monthly exports hit US$115.3 bln in Oct. on strong chip sales

South Korea's exports surged 93.7 percent to a record US$115.3 billion in October, propelled mainly by a substantial rise in semiconductor shipments, according to data released on Sunday. The Ministry of Trade, Industry and Resources attributed the surge to strong global demand for semiconductors and ongoing investments by major technology firms in artificial intelligence infrastructure. Imports, meanwhile, grew 36 percent year-on-year to $72.78 billion, resulting in a trade surplus of $42.5 billion.

Semiconductor exports, a crucial component of South Korea's economy, surged 259 percent to $56.4 billion, marking a remarkable increase year-on-year. Petroleum product exports jumped 80 percent to $6.92 billion, while petrochemical product exports rose by 27.5 percent to $4 billion. Cosmetic exports also saw a significant boost, surging 57.5 percent to $1.44 billion, driven by heightened demand in China, the United States, and the European Union.

Automobile exports climbed 18.1 percent to $6.55 billion, fueled by increased overseas demand for gasoline hybrid vehicles.

Exports to China surged 133.6 percent to $26.98 billion, driven by robust shipments of semiconductors and wireless communications equipment. China remained the top destination for South Korean exports for the fifth consecutive month, with shipments surpassing $20 billion. Shipments to the United States grew 185.8 percent to $24.9 billion, bolstered by solid demand for semiconductors, computers, and electrical equipment utilized in AI infrastructure.