South Korea's Semiconductor Exports Surge as Global AI Demand Increases
South Korea recorded a major increase in exports during October, supported by strong global demand for artificial intelligence technology. Semiconductor exports increased by 259.4%, while computer exports also recorded significant growth.
SEOUL: South Korea's export industry recorded strong growth in October as demand for artificial intelligence technology increased across the world.
According to government trade figures reported by Reuters, the country's total exports increased by 93.7% compared with October last year, reaching a record $115.28 billion.
Semiconductors played a major role in this growth. Chip exports increased by 259.4% to $56.44 billion.
Computer exports also recorded a major increase, rising by 496.6% as companies around the world continued investing in AI servers and advanced computing infrastructure.
South Korean technology companies, including Samsung Electronics and SK Hynix, are among the major players in the global semiconductor market.
The growing demand for advanced memory chips has created new opportunities for manufacturers supplying technology companies and data centre operators.
Exports to China, the United States, Europe and Southeast Asia also increased during the month.
South Korea's export performance highlights the growing importance of semiconductors in the global economy.
Artificial intelligence systems require powerful processors, memory and data centre infrastructure. This has increased demand for advanced chips and related technologies.
The country's latest trade figures show how the worldwide expansion of artificial intelligence is influencing manufacturing, international trade and economic growth.