South Korea’s exports soared 93.7% yoy to USD 115.28 billion in October 2026, putting the country within USD 70 billion of its USD 1 trillion annual target this year, preliminary data showed. The latest reading surpassed estimates of a 93.2% increase, accelerated from a marginally revised 83.7% jump in September, and marked the fastest increase since January 1974, driven by strong demand for memory chips. Exports rose for the 17th straight month, with semiconductor exports surging 259.4% to USD 56.4 billion, driven by persistently strong global demand related to AI investment. Exports of computers also jumped 496.6%, supported by increased investment in server infrastructure. Meanwhile, exports of cosmetics and automobiles rose by 57.5% and 18.1%, respectively. Shipments to China surged 133.6%, while those to the US jumped 185.8% and those to ASEAN countries soared 128.0%. From January to October 2026, exports reached USD 930 billion, surpassing USD 900 billion for the first time.