By Cynthia Kim
SEOUL, Oct 1 (Reuters) - South Korea's exports jumped 83.5% in September from a year earlier to a record $120.9 billion, government data showed on Thursday, as semiconductor shipments more than tripled on global spending on artificial intelligence.
Data released by the customs office showed outbound shipments outstripped market expectations for a 62.0% increase, marking the country’s 16th consecutive month of export growth.
Exports for January to September reached $814.5 billion, the
first time they have topped $800 billion over this period. That is already more than last year's full-year record of $709.3 billion and on track to top $1 trillion.
"While the achievement of annual exports of $1 trillion is expected, the strengthening of global protectionism and the tense situation in the Middle East region still remain big variables for our exports," Industry Minister Kim Jung-kwan said in a statement.
Average exports per working day more than doubled in September, up 104.9% compared to the previous year.
The increase was anchored by a historic peak in semiconductor shipments, which continue to serve as the backbone of the global AI infrastructure build-out.
The data support the Bank of Korea's view that the economy can withstand higher borrowing costs.
In August, the central bank raised its key rate by 25 basis points to 3%, its second hike in a row. It also raised its 2026 growth forecast to 3.3% from 2.6%. Policymakers' median rate projection suggests one more quarter-point hike, though Governor Shin Hyun Song said tightening would be gradual.
Chip exports in September rose 262.8% to $60.3 billion, making up almost half of all exports.
Computer exports rose 435.3% to $7.0 billion on demand for agentic AI and AI infrastructure.
Exports to the United States rose 137.0% to $24.33 billion and shipments to China rose 122.7% to $26.01 billion.
Imports climbed 26.0% year-on-year, outpacing the 21.5% forecast. This resulted in a provisional trade surplus of $49.85 billion, up from $34.79 billion in August.
(Reporting by Cynthia Kim; Editing by Clarence Fernandez and Ed Davies)
