Seoul: Exports surged by 33.9 percent from the previous year in January, reaching over $65 billion, fueled by a strong demand for semiconductors, as reported by government data on Sunday. Outbound shipments totaled $65.85 billion last month, marking the highest figure recorded for any January, based on the data compiled by the Ministry of Trade, Industry and Resources.

According to Yonhap News Agency, imports also saw a significant rise, increasing by 11.7 percent year-on-year to $57.1 billion. This growth in imports contributed to a trade surplus of $8.74 billion for the month. The robust performance in exports is largely attributed to the booming semiconductor industry, which continues to drive economic growth and trade balance in the country.

The Ministry of Trade, Industry and Resources noted that the demand for chips remains a critical factor in sustaining the export growth momentum. The trade surplus highlights the country's competitive edge in the global semiconductor market, which is witnessing unprecedented demand across various sectors, including technology and automotive industries.