SEOUL — Propelled by an unprecedented semiconductor super-cycle, South Korea’s cumulative exports have surpassed $800 billion for the first time in history. With September exports also breaking records by topping $1,200 billion, the country’s ambitious goal of reaching $1 trillion in annual exports by November has come into clear view.

According to the import-export trends for September 2026 released by the Ministry of Trade, Industry and Energy on the 1st, last month’s exports recorded $120.94 billion, marking an 83.5% surge compared to the same month last year.

This is the first time monthly exports have ever exceeded $120 billion, shattering the previous record set just three months prior in June. Cumulative exports from January to September hit $8145 billion, representing a 56.8% increase year-on-year and already surpassing last year’s annual total of $70.93 billion.

Reflecting working days, average daily exports for September reached a historic $5.63 billion—a 105% jump year-on-year and the first time daily exports have crossed the $5b mark.

The semiconductor sector spearheaded these record-breaking figures. September chip exports skyrocketed by 262.8% to $60.3 billion, making up roughly half of South Korea’s total exports. Driven by the rapid expansion of the artificial intelligence industry, demand for memory spiked alongside higher fixed prices and increased shipping volumes.

Other key sectors also showed stellar growth. Computer exports soared 435.3% to $7 billion on the back of rising AI infrastructure investments. Wireless communications equipment grew for the 11th consecutive month to $2.14 billion due to strong premium smartphone and component sales. Ship exports rose 29.9% to $3.76 billion driven by LNG and ultra-large gas carrier deliveries, while petroleum products grew 72.0% to $7.22 billion. Cosmetics also reached an all-time high of $1.51 billion. Meanwhile, automobile exports dipped 5.5% to $6.05 billion due to fewer working days from the Chuseok holiday, though daily average auto exports rose 5.5%.

Major export markets flourished concurrently. Exports to China hit $26.01 billion, staying above $20 billion for four consecutive months. Exports to the United States surged 137.0% to $24.33 billion, while shipments to ASEAN surpassed $20 billion for the first time at $21.29 billion. Conversely, exports to the Middle East dropped 14.1% to $1.6 billion due to Strait of Hormuz shipping disruptions.

With imports reaching $71.09 billion—driven by higher crude prices and increased semiconductor equipment imports—outpacing imports significantly resulted in a record monthly trade surplus of $49.85 billion. The cumulative trade surplus for the first nine months expanded to $252.5 billion.

Minister of Trade, Industry and Energy Kim Jung-kwan stated that achieving $1 trillion in annual exports is now well within reach, while emphasizing that the government will continue to closely monitor external risks such as rising protectionism and Middle East tensions.

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