South Korea's exports reached $71.4 billion in September 1–20, 2026, up 78.3% from a year earlier and the highest for any 1–20 period on record, as semiconductor exports jumped 259.4% to $34.1 billion (provisional customs data).
On September 21, 2026, the Korea Customs Service reported exports of $71.41 billion for the first 20 days of September. That was up 78.3% from the same period of 2025 and the largest total for any 1–20 period on record. The previous high was $61.7 billion, set in June 1–20, 2026. All figures are provisional customs-clearance data.
Most of the growth came from semiconductors. Chip exports rose 259.4% to $34.13 billion, the first time they have topped $30 billion in a 1–20 period. They made up 47.8% of all exports, up from 23.7% a year earlier.
| Item | Sep 1–20, 2026 | Change vs. a year earlier |
|---|---|---|
| Total exports | $71.41B | +78.3% |
| Semiconductor exports | $34.13B | +259.4% |
| Chip share of exports | 47.8% | +24.1 pts (from 23.7%) |
| Daily-average exports | $4.61B | +89.8% |
| Working days | 15.5 | 1 fewer (16.5) |
| Imports | $48.44B | +26.7% |
| Trade balance | $22.97B surplus | — |
This year's period had one fewer working day than last year's. That makes the daily-average figure (+89.8%) a better measure of momentum than the headline +78.3%. From January 1 to September 20, exports totaled $765.0 billion, up 55.0% (provisional). The cumulative trade surplus reached $225.59 billion, more than five times the $42.16 billion recorded in the same period of 2025.
Official explanations point to two things happening at once: bigger spending on AI data centers and higher memory-chip prices. In its September 1 release on August trade, the trade ministry (Ministry of Trade, Industry and Resources) said semiconductors were the main driver because demand for AI infrastructure kept growing. It said hyperscalers such as Google and Amazon were expanding capital spending. Computer exports rose 419.5% to a record $6.24 billion, which the ministry linked to rising prices of NAND flash, the memory used in enterprise solid-state drives.
Prices have been a factor all year. In May, chip exports set what was then a record of $37.16 billion (+169.4%), and DRAM exports alone were $18.6 billion (+369.8%). A ministry official said at the time that big US tech companies were investing more in facilities, which kept fixed memory prices rising. Yonhap reported in August that memory prices stayed high despite heavier competition. A September 14 ICT trade release pointed to a memory supply shortage that was pushing up fixed transaction prices.
AI accelerators use high-bandwidth memory (HBM), a stacked DRAM product in which SK hynix is a leading supplier. The boom also shows up in company results. Samsung Electronics' preliminary second-quarter operating profit was 89.4 trillion won, a quarterly record. SK hynix raised about $26.5 billion when it listed ADRs on Nasdaq on July 10.
More chip exports also mean more imports. Imports of chipmaking equipment rose 117.3% to $2.57 billion in August and 55.6% in September 1–20. Chip imports rose 88.8% to $8.74 billion in September 1–20.
The data cannot yet show how much of the jump comes from higher prices and how much from higher volumes. The 10-day and 20-day customs tallies do not split chip exports into unit prices and quantities.
Monthly exports passed $100 billion for the first time in June 2026, at $102.25 billion, and have stayed close to that level since. The chip share of exports was about 42% in May, 44% in June and 41% in July, then jumped to 47.5% in August and 47.8% in the first 20 days of September.
| Period (2026) | Exports | Change y/y | Chip exports, y/y (share) |
|---|---|---|---|
| May | $87.75B | +53.2% | $37.16B, +169.4% (≈42%) |
| June | $102.25B | +70.9% | $44.82B, +199.5% (≈44%) |
| July | $98.89B | +62.8% | $41.01B, +178.8% (≈41%) |
| August | $98.25B | +68.7% | $46.65B, +209.0% (47.5%) |
| Sep 1–20 | $71.41B | +78.3% | $34.13B, +259.4% (47.8%) |
Shares marked ≈ are patchkr calculations from the reported chip and total export values. Monthly totals and chip growth rates are the trade ministry's provisional figures. First-half 2026 exports were $496.7 billion (+48.4%), with chip exports up 162.6% to $192.4 billion. January–August exports were $693.3 billion, up 52.8% (provisional, customs basis). Chip exports were above $40 billion in each of June, July and August.
Shipments to Korea's two largest markets more than doubled. In September 1–20, exports to China rose 113.8% to $16.63 billion and exports to the United States rose 118.0% to $14.22 billion. China, the US and Vietnam together took 51.4% of all exports.
| Market | Sep 1–20, 2026 (y/y) | August 2026 (y/y) |
|---|---|---|
| China | $16.63B (+113.8%) | $24.10B (+119.3%) |
| United States | $14.22B (+118.0%) | $16.50B (+89.3%) |
| ASEAN | n/a (Vietnam +44.8%, Malaysia +173.9%) | $19.09B (+75.4%) |
| Taiwan | +128.5% | n/a |
| Hong Kong | +137.7% | n/a |
| EU | +37.0% | $6.62B (+14.6%) |
| Japan | +33.5% | n/a |
| Middle East | n/a | $1.19B (−15.0%) |
Destination data show where goods are shipped, not where the chips are finally used. Several destinations, including Taiwan, Hong Kong, Malaysia and Vietnam, serve as manufacturing or re-export hubs in electronics supply chains. Chips sent there can end up in servers and devices sold in other countries.
On US trade policy, the backdrop is a deal reached in 2025: Washington lowered its tariff on most South Korean goods to 15% from 25% in return for a $350 billion Korean investment pledge. On September 22, 2026, the government told lawmakers that the first project under that package would be a gas-fired power plant in Encinal, Texas, valued at about $22.3 billion. The customs data do not isolate any tariff effect on individual products, chips included.
The chip share of exports has about doubled in a year. It was 47.8% in September 1–20, against 23.7% a year earlier, and 47.2% in August 1–20, against 24.6% a year earlier. Information and communications technology goods as a whole made up 61.0% of August exports, the first time above 60%, according to ICT trade data reported by BusinessKorea.
Other products have been mixed. Releasing the August figures on September 1, trade minister Kim Jung-kwan said exports other than chips were also growing by about 20%, a sign that the export base was broadening. But car exports fell 29.8% in August, which the ministry put down to changed summer-vacation schedules and partial strikes. Ship exports fell 45.9% because fewer vessels were delivered. In September 1–20, passenger cars (+9.3%) and ships (+63.0%) recovered. Wireless communication devices (−0.4%), auto parts (−6.3%), precision instruments (−6.3%) and home appliances (−6.7%) declined.
Rising memory prices are one of the two drivers the government cites, and memory prices have moved in cycles in the past. With chips now close to half of exports, a downturn in the memory market would move Korea's headline export figure far more than it did when chips were under a quarter of shipments.
The export surge is feeding into economic forecasts. On September 23 the Asian Development Bank raised its 2026 growth forecast for South Korea to 3.2%, up from the 2.6% it projected in July. It cited exports amid soaring global demand for AI chips, along with strong corporate earnings, and raised its 2027 forecast by 0.3 percentage point to 2.3%.
Stocks rose on the day the data came out. The Korea Times reported that the KOSPI closed at 7,007.72 on September 21, up 1.65%, and that Samsung Electronics shares rose 4.98% to 274,000 won.
Full-month September figures are expected on October 1. This year the trade ministry has published each month's data on the first day of the following month: June data on July 1, July data on August 1 and August data on September 1. As of September 26, however, the October 1 date had not been separately confirmed.
In 2026 the Chuseok holiday falls on September 24–26, inside the last 10 days of the month. In 2025 it fell in October. Late September 2026 therefore has fewer working days than late September 2025, which can drag down the full-month comparison. Daily-average exports will be the fairer measure.
Other things to watch: whether the chip share stays near 48%, whether shipments to China and the US keep doubling, and whether the ministry or chipmakers report any easing in memory prices.
As of September 26, 2026, South Korea's trade ministry points to two drivers: demand for AI infrastructure, as hyperscalers such as Google and Amazon spend more on data centers, and higher memory-chip prices. Chip exports rose 259.4% year on year to $34.13 billion in September 1–20, 2026, according to provisional Korea Customs Service data released September 21. The data do not show how much of the rise comes from prices rather than volumes.
Semiconductors made up 47.8% of South Korea's exports in September 1–20, 2026, up from 23.7% a year earlier, according to provisional customs data released September 21, 2026. In the full month of August 2026 the share was 47.5% ($46.65 billion of $98.25 billion, provisional).
Yes, for a 1–20 period. Exports of $71.41 billion in September 1–20, 2026 were the highest for any 1–20 period on record, up 78.3% year on year, according to provisional Korea Customs Service data released September 21. It is not a monthly record. Full-month September data had not been published as of September 26, 2026.
China and the United States are the biggest markets. In September 1–20, 2026, exports to China rose 113.8% to $16.63 billion and exports to the US rose 118.0% to $14.22 billion, according to provisional customs data released September 21, 2026. China, the US and Vietnam together took 51.4% of South Korea's exports in that period.
Yes, once. As of September 26, 2026, June 2026 was the only month above $100 billion: exports were $102.25 billion (+70.9%, provisional), according to the trade ministry. July 2026 ($98.89 billion) and August 2026 ($98.25 billion) were the next highest months.
As of September 26, 2026, full-month September data were expected on October 1, since the trade ministry published June, July and August figures on the first day of the following month; the date had not been separately confirmed. The Chuseok holiday (September 24–26, 2026) cuts working days in late September, so daily-average exports are the fairer comparison.