South Korea’s exports reached a record $57.52 billion in October, marking the highest monthly figure for three consecutive months and a 4.6% year-on-year increase. Semiconductors, automobiles and bio-health products were top performers, driving positive growth in exports to the U.S. and China. Imports rose slightly to $54.35 billion, resulting in a $3.17 billion trade surplus, the 17th consecutive monthly surplus.

South Korean trade minister Ahn Duk-geun noted the need for continued vigilance amid global uncertainty, citing risks from the U.S. presidential election and ongoing geopolitical tensions.

WHY IT MATTERS

October’s strong export performance could give the South Korean economy a