South Korea Exports Hit Record High on AI Chip Boom
South Korean exports grew 53.2% in May to a record $87.75 billion, marking the strongest annual growth rate since 1984. The surge was driven by semiconductor sales jumping 169.4% as global investment in AI technology continues to bolster the trade-reliant economy and benchmark stock index.
South Korea exports grew 53.2% in May, marking the strongest annual increase in over four decades as AI chip demand hit record levels. The trade-reliant economy reached $87.75 billion in total shipments, exceeding the 48.4% growth predicted by a Reuters poll. This surge validates the record-breaking rally in local equities and suggests further upward revisions for national growth targets. Last year, the KOSPI index rose 76%, the biggest percentage gain since 1999.
### AI Demand Drives Record Semiconductor Shipments Semiconductor exports jumped 169.4% to a record $37.16 billion in May. This growth follows a 12-month expansion streak fueled by rising memory chip prices and heavy investment from technology firms in the United States. Computer sales also rose 290.7% to meet global demand for AI servers.
