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South Korea exports nearly double in October, strongest growth since 1974
Semiconductor shipments surged 259.4% as exports rose to $115.28 billion, the trade ministry said, marking the strongest annual gain since January 1974.
- South Korea's exports nearly doubled in October, reaching a record $115.3 billion and marking the sharpest jump in more than 50 years, trade data showed on Sunday.
- Favourable calendar effects from Chuseok holidays provided more working days, while strong global demand for artificial intelligence infrastructure drove the surge, the Ministry reported.
- Semiconductor sales skyrocketed 259.4 percent to $56.4 billion, while Computer sales surged 496.6 percent on increasing server demand for artificial intelligence services.
- Imports rose 36.0 percent to $72.78 billion, resulting in a Trade surplus of $42.5 billion despite being narrower than the previous month's record.
- Shipments to the United States surged 185.8 percent to $24.9 billion, while Exports to China soared 133.6 percent, with Cosmetics exports rising 57.5 percent to $1.44 billion.
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Korea's monthly exports hit $115.3 bil. in Oct. on record chip sales
South Korea's exports jumped 93.7 percent to a record $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…
·Seoul, Korea (the Republic of)
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Total News Sources12
Leaning Left1Leaning Right3Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
C 60%
R 30%
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