South Korea Exports Hit Record $71.4 Billion in September

South Korea achieved a record high for a 20-day period as exports surged 78 percent to $71.4 billion during the first 20 days of September. Data from the Korea Customs Service shows the growth was primarily driven by semiconductor shipments, which increased 259 percent to reach $34.12 billion.

Other sectors saw significant gains, including ship exports, which rose 63 percent, and petroleum products, which increased 47.8 percent. Trade with major partners grew sharply, as exports to China more than doubled and shipments to the United States surged 118 percent.

Imports rose 26.7 percent to $48.4 billion, leaving the country with a trade surplus of $23 billion for the period. This performance, alongside rallies in U.S. semiconductor shares, pushed the Korea Composite Stock Price Index (KOSPI) up 1.55 percent to 7,000.88 on Monday morning. The market gains offset investor concerns regarding geopolitical tensions in the Middle East and elevated oil prices.