Seoul: South Korea's exports experienced a significant increase of 43.7 percent during the first 10 days of May, driven primarily by robust overseas demand for semiconductors, data revealed on Monday. Outbound shipments reached a total of US$18.4 billion from May 1 to May 10, compared to $12.8 billion recorded in the same period last year, highlighting a notable upturn in the country's export activities.

According to Yonhap News Agency, this surge marked the country's largest exports ever recorded for the cited period. Imports also rose by 14.9 percent year-on-year to $16.7 billion, resulting in a trade surplus of $1.7 billion. Per-day exports similarly increased by 43.7 percent year-on-year to $3.69 billion, with the number of working days remaining consistent at five, as it was last year.

The data further detailed that semiconductor exports experienced an unprecedented growth of 149.8 percent year-on-year, reaching a record high of $8.54 billion. This increase was attributed to the sustained rise in memory chip prices, fueled by high demand for artificial intelligence servers. Semiconductors accounted for 46.3 percent of the country's total exports during this period, up 19.7 percentage points from the previous year.

Meanwhile, exports of computer products also surged by 382.8 percent to $1.14 billion. In contrast, the auto sector saw a decline, with exports dropping 26 percent year-on-year to $830 million. By destination, South Korea's exports to China, its largest trading partner, soared by 81.8 percent year-on-year to $5.09 billion. Shipments to the United States increased by 17.9 percent to $2.34 billion, despite the existing tariff policies under U.S. President Donald Trump's administration.