What drove Korea’s record exports in September?

The Ministry of Trade, Industry and Resources said September exports reached $120.9 billion, up 83.5 percent from a year earlier. Semiconductor exports exceeded $60 billion for the first time ever, lifting the overall figure.

Finance minister expects exports to top $1 tril. this year

Q: Why does Korea expect annual exports to top $1 trillion this year?

Finance Minister Lee Hyoung-il tied the forecast to strong export momentum despite unfavorable external conditions, including the Middle East crisis. He said the economy remains on a solid growth track and pointed to record September exports as evidence.

Q: What economic priorities did Finance Minister Lee Hyoung-il outline?

Lee said policy will focus on boosting people’s livelihoods, stabilizing inflation and narrowing the income divide. He also said the economy is likely to grow in the 3 percent range this year.

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Summary

Finance Minister Lee Hyoung-il said Thursday that Korea’s annual exports are likely to top $1 trillion this year despite unfavorable external conditions, including the Middle East crisis. He said the economy is on a solid growth track and this year’s growth is likely to be in the 3 percent range. He also said policy will focus on livelihoods, inflation and narrowing the income divide.

Key Facts

Korea’s exports rose 83.5 percent on-year to a record $120.9 billion in September.
Semiconductor exports exceeded $60 billion for the first time last month, driven by a surge in chip shipments.
Korea’s exports totaled $814.5 billion in the first nine months of the year, already above last year’s full-year outbound shipments of $709.3 billion.

By Yonhap

Published Oct 1, 2026 10:45 am KST

Finance Minister Lee Hyoung-il speaks during an emergency economic meeting at Government Complex Seoul in Jongno District, Thursdsay. Yonhap

Korea's top economic policymaker said Thursday that the country's annual exports are likely to top the historic $1 trillion mark this year despite unfavorable external conditions, such as the Middle East crisis.

"Despite the Middle East war and other unfavorable external conditions, the economy is on a solid growth track, and this year's economic growth is likely to be in the 3 percent range," Finance Minister Lee Hyoung-il said in an emergency economic meeting,

The minister said economic policies will be focused on boosting people's livelihood, stabilizing inflation and narrowing the income divide.

His comments came as Korea's exports soared 83.5 percent on-year to a record $120.9 billion in September, driven by a surge in chip shipments.

Semiconductor exports exceeded $60 billion for the first time ever last month, boosting overall export figures, the Ministry of Trade, Industry and Resources said.

In the first nine months of the year, the country's exports stood at $814.5 billion, already surpassing last year's outbound shipments of $709.3 billion in total.

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