South Korea’s exports surge in October 2026

South Korean exports rose by 93.7% in October 2026 compared to the same period in 2025, reaching 115.28 billion dollars, according to figures released on November 1. This growth is attributed to strong global demand for computer components, especially those used in artificial intelligence data centers.

Highest annual growth since 1974

The 93.7% increase is the highest annual growth rate since January 1974. It slightly exceeded economists’ expectations, who had predicted a 93.2% rise. The increase was also influenced by the calendar: October had more working days than the same month in 2025 due to a shift in the Chuseok holiday.

Semiconductors dominate export growth

Semiconductors accounted for nearly half of South Korea’s exports in October, with sales reaching 56.44 billion dollars—an increase of 259.4% compared to the previous year. They make up about 49% of the country’s total exports for the month. Computer exports also surged by 496.6%, driven by demand for servers used in AI applications.

Major South Korean producers benefit

Major South Korean producers of electronic memories, Samsung Electronics and SK Hynix, are seeing significant gains. Their products are central to investments in next-generation information infrastructure, as noted by The Wall Street Journal. South Korean exports to China rose by 133.6%, to the United States by 185.8%, and to Europe by 56.4%.

Export growth may not translate to French imports

While European manufacturers benefit from purchasing components on internationalized technology markets, this does not necessarily lead to a similar increase in French imports. For the first ten months of 2026, South Korean exports totaled 930 billion dollars, and the government expects to cross the 1,000 billion dollar threshold as early as November.

Imports rise, trade surplus remains strong

Imports also increased by 36% in October, reaching 72.78 billion dollars, primarily due to higher oil costs and purchases of industrial equipment. The trade surplus reached 42.5 billion dollars, slightly down from 49.97 billion in September.

Global demand focuses on memory chips and computing equipment

For French and European companies, the concentration of global demand on memory chips and computing equipment is a key factor. These components are used in servers and various electronic production chains. The growth in purchases for AI applications may affect supply costs depending on the contracts and components involved.

Cyclical risks for South Korea’s semiconductor industry

The Bank of Korea warned that a slowdown in spending by major American companies on AI could significantly reduce national semiconductor exports in 2027. Current strong orders and the uncertainty about how long they will last are two sides of the same economic phenomenon.

Monitoring production and demand balance

The next challenge will be determining how much of this export growth continues beyond calendar effects and memory prices. For European electronics companies, Korean export data serve as an important indicator to monitor the balance between production capacity, computing demand, and component costs.