South Korea's Exports Hit Record High, Fueled by Semiconductor Boom

South Korea's export value reached an all-time high last month, reflecting a booming semiconductor market. This achievement was driven by a significant increase in memory chip prices, including DRAM and NAND, attributed to the widespread adoption of Artificial Intelligence (AI) services. Semiconductors accounted for $37.16 billion of the total export value of $87.75 billion, a nearly 170% increase compared to the same month last year. Semiconductor exports have now exceeded $30 billion for three consecutive months.

Jensen Huang, CEO of Nvidia, announced that the company's next-generation chip, 'Vera Rubin,' will feature memory components from Samsung Electronics and SK Hynix. Huang mentioned that mass production of this chip has commenced.

Exports of items other than semiconductors also grew by 16.4%. Out of the top 20 export items, 12 showed growth.

Positive outlooks for semiconductors and AI have also been reflected in stock prices. Ahead of Nvidia CEO Jensen Huang's visit to South Korea, major companies like Samsung Electronics, considered a key beneficiary, surged over 10%, with top market capitalization stocks showing strong performance. Analysis suggests that the evolution of AI technology will bring substantial benefits to certain domestic industries. Amidst this trend, the KOSPI index closed at a record high of 8,788, nearing the 9,000-point mark. The possibility of achieving $1 trillion in annual exports has also been raised.