Surge in AI Demand Drives South Korea's Chip Exports to Record High

South Korea's exports surged in August, driven by record semiconductor shipments. The main driver was a global boom in investments in artificial intelligence, which is supporting demand for memory and other components for data centers.

According to South Korea's Ministry of Trade, Industry and Energy, in August the country's exports increased by 68.7% compared to the same month last year - to $98.25 billion. This is the third-largest monthly result in the country's history.

Semiconductors played a key role in the growth. Their exports jumped by 209% - to a record $46.65 billion. Chip shipments exceeded $40 billion for the third consecutive month.

AI supports demand for Korean chips

The sharp increase in exports is linked to large-scale investments by major technology companies in AI infrastructure. Hyperscalers such as Google and Amazon are increasing spending on data centers, which raises the need for high-performance semiconductors and memory.

South Korea is one of the world's leading producers of memory chips. Key companies in the sector include Samsung Electronics and SK Hynix, which benefit from rising demand for components for servers and artificial intelligence systems.

At the same time, growth was not limited to semiconductors: exports of other goods also increased by about 20%, indicating an expansion of the country's export base.

Trade surplus continued to grow

South Korea's imports in August grew by 22.6% year-on-year - to $63.51 billion. As a result, the country ended the month with a trade surplus of $34.75 billion.

South Korean authorities stress that they will continue to monitor changes in global trade, despite the current strong results. The country's export-oriented economy remains sensitive to global demand, trade restrictions, and the situation in the semiconductor market.

Based on materials from: Yonhap News Agency