October exports surge 93.7%... Semiconductor exports jump 259.4%

October exports surged 93.7% year-on-year to $115.28 billion (about 153.9 trillion won), the second-highest monthly figure on record, driven by a 259.4% jump in semiconductor shipments that accounted for roughly 49% of total exports, the Ministry of Trade, Industry and Energy said Friday. On a working-day-adjusted basis, daily average exports rose 76.1% to $5.24 billion, though the ministry cautioned the headline growth rate is not directly comparable to prior months because the Chuseok holiday fell in different months last year and this year. Eighteen of the country's 20 main export items posted gains, with early-October data (Sept. 1–20) already showing a 78.3% increase, suggesting broad-based momentum rather than a single-sector spike. The figures are preliminary customs-cleared data through Oct. 31. The strength underscores semiconductors' outsized role in the trade account and export-dependent economy, with memory prices and AI-related demand as key swing factors. Watch next: November export figures for confirmation of the trend, the final revision of October customs data, and any policy response to currency and trade-balance implications.