South Korea's September exports hit record $120.9 billion on AI chip demand

South Korea's exports jumped 83.5% in September to a record $120.9 billion, driven by a 262.8% surge in semiconductor shipments to $60.3 billion, fueled by global AI investment. This marked the 16th consecutive month of growth, with January-September exports reaching $814.5 billion, already surpassing last year's full-year record. The trade surplus hit a provisional $49.85 billion. Exports to the US rose 137% and to China 122.7%. The data supports the Bank of Korea's rate hike stance, with the central bank raising its key rate to 3% in August and forecasting 3.3% growth for 2026.