South Korea exports surge 83.5% on AI chip demand

South Korea's exports surged 83.5% in September to a record $120.94 billion, official data showed Thursday, as demand linked to artificial intelligence lifted chip shipments.

Overseas shipments nearly doubled from $65.95 billion a year earlier. Chip exports hit a record $60.3 billion, up more than 262% on year, as memory demand grew and prices continued to climb.

Computer exports rose 435.3% to $7 billion because of the spread of agentic AI and sustained demand for AI infrastructure, the trade ministry said. South Korea is home to Samsung Electronics and SK hynix, both key suppliers to the global AI industry.

Trade minister Kim Jung-kwan said the new record showed the strength of South Korea's industries and companies. He said annual exports were now expected to reach $1 trillion, while warning that rising global protectionism and tensions in the Middle East remained major risks.

The presidential office said in July that Samsung and SK hynix would supply US tech companies, including Nvidia, under agreements worth $950 billion.