S. Korea Exports Surge 12.7% on AI Chip Demand

South Korea's exports rose 12.7% in September to $65.95 billion—the fastest pace in 14 months—driven by an AI-related semiconductor boom that pushed chip shipments up about 22% to a record ~$16.6 billion and helped produce a $9.56 billion trade surplus. Auto exports climbed roughly 17%, led by hybrids and EVs, while imports increased 8.2%. Equity markets reacted positively, with the KOSPI up about 0.9% and major chipmakers Samsung Electronics and SK Hynix gaining, while the won briefly weakened after a U.S.-South Korea joint statement on currency policy. Officials and economists cautioned that some of the headline strength reflected Chuseok calendar effects and front-loaded shipments, and warned that lingering U.S. tariff pressure and unresolved trade talks could weigh on sectors such as steel and autos.