(LEAD) S. Korea's monthly exports hit US$115.3 bln in Oct. on strong chip sales

(ATTN: UPDATES with details in paras 2, 4-10)

SEOUL, Nov. 1 (Yonhap) -- South Korea's exports jumped 93.7 percent to a record US$115.3 billion in October from a year earlier, driven largely by a sharp increase in semiconductor shipments, data showed Sunday.

Strong global demand for semiconductors, coupled with continued investments by major technology companies in artificial intelligence (AI) infrastructure, boosted overall exports, the Ministry of Trade, Industry and Resources said in a press release.

Imports rose 36 percent from a year earlier to $72.78 billion, resulting in a trade surplus of $42.5 billion.

By sector, semiconductor exports, a key pillar of Asia's fourth-largest economy, skyrocketed 259 percent from a year earlier to $56.4 billion, the release said.

Exports of petroleum products jumped 80 percent to $6.92 billion, while those of petrochemical products rose 27.5 percent to $4 billion.

Cosmetics exports shot up 57.5 percent to $1.44 billion on rising demand in China, the United States and the European Union.

Automobile exports gained 18.1 percent to $6.55 billion, driven by increased overseas demand for gasoline hybrid models.

By destination, exports to China soared 133.6 percent to $26.98 billion, driven by strong shipments of semiconductors and wireless communications equipment.

Exports to China topped $20 billion for the fifth consecutive month.

Shipments to the United States surged 185.8 percent to $24.9 billion, supported by robust demand for semiconductors, computers and electrical equipment used in AI infrastructure.

kyongae.choi@yna.co.kr
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