Seoul:South Korea's exports soared by 93.7% in October compared to the previous year, marking a record high of $115.3 billion, the highest in more than five decades. This surge was primarily fueled by booming semiconductor shipments and increased demand for artificial intelligence (AI) technology.

According to Qatar News Agency, strong global demand for semiconductors and ongoing investments by major technology companies in AI infrastructure significantly boosted the country's exports. The Ministry of Trade, Industry and Resources reported these developments in a statement released on Sunday.

In addition to exports, South Korea's imports increased by 36% from the previous year, reaching $72.78 billion. This resulted in a trade surplus of $42.5 billion. The semiconductor sector, a vital component of Asia's fourth-largest economy, saw exports skyrocket by 259% to $56.4 billion in October.

Automobile exports also experienced growth, rising by 18.1% to $6.55 billion. This increase was driven by heightened overseas demand for gasoline hybrid models.

The report highlighted that exports to China surged by 133.6% to $26.98 billion, driven by strong shipments of semiconductors and wireless communications equipment. Exports to China have remained above $20 billion for five consecutive months. Meanwhile, shipments to the United States increased by 185.8% to $24.9 billion, supported by robust demand for semiconductors, computers, and electrical equipment used in AI infrastructure.