South Korea’s Chip Exports Hit $56.4B in Record October

South Korea exported $115.3 billion in October, a record and a 93.7% year-on-year increase, as semiconductor exports surged 259% to $56.4 billion. Ministry of Trade, Industry and Energy figures, cited by Yonhap News Agency, said global technology companies had accelerated AI infrastructure investment, driving demand for advanced chips.

What drove October’s export surge?

Semiconductors accounted for approximately 49% of South Korea’s total exports, and their value more than tripled during October. The government data measures export value, but it does not assign those gains between Samsung Electronics and SK Hynix.

• Petroleum product exports rose 80% to $6.92 billion.
• Petrochemical shipments increased 27.5% to $4 billion.
• Cosmetics exports rose 57.5% to $1.44 billion.
• Automotive shipments grew 18.1% to $6.55 billion, supported by continued global demand for hybrid vehicles.

Those increases show AI-related chip demand operating alongside a broader rise in industrial and consumer shipments. The decisive commercial variable was advanced-chip demand, but October was not a semiconductor-only export cycle.

How did trade with China and the United States change?

Imports rose 36% to $72.78 billion, leaving South Korea with an approximate $42.5 billion trade surplus. Imports also reached a high level, but much faster export growth produced the surplus.

• Shipments to China jumped 133.6% year on year to $26.98 billion, exceeding $20 billion for the fifth consecutive month.
• Exports to the United States climbed 185.8% to $24.9 billion, supported by demand for semiconductors, computing devices and electrical equipment used in expanding AI infrastructure.

China and the United States both posted triple-digit growth and remained South Korea’s two largest export destinations. The source does not isolate semiconductor shipments within either destination total.

What did AI memory demand mean for Samsung and SK Hynix?

Samsung Electronics reported record third-quarter 2026 revenue of $146 billion (KRW 195.3 trillion). Operating profit reached $80.5 billion (KRW 107.4 trillion), as stronger advanced-memory demand supported earnings.

SK Hynix also posted record quarterly profits. Strong demand for high-bandwidth memory, or HBM, supported the result; HBM is used in AI servers and advanced computing systems.

The Associated Press put Samsung and SK Hynix’s combined share of the global memory-chip market at roughly two-thirds. That concentration connects South Korea’s export surge with the two manufacturers most exposed to advanced-memory demand.

Neither the trade data nor the corporate results specify how much of October’s semiconductor exports came from each company. The $56.4 billion export figure therefore should not be treated as their combined revenue.

How much advanced-memory capacity is planned?

Samsung Electronics and SK Hynix have announced a combined $599 billion investment to develop a semiconductor “megacluster” in South Korea. The plan seeks to expand production capacity for advanced memory chips used in AI infrastructure.

The $599 billion figure covers announced investment, not confirmed operating capacity or booked revenue. The announcement provides no wafer-by-wafer capacity target, process node, wafer size, construction schedule or revenue forecast.

Because the two companies account for roughly two-thirds of global memory-chip sales, their buildout could reshape advanced-memory supply and competitive balance. If capacity arrives before AI-server demand expands, pricing could weaken; if demand holds, the megacluster could reinforce their market position.