South Korea’s exports jumped nearly 34% year-on-year in January to $65.85 billion, the highest January level on record, driven by a sharp rise in semiconductor shipments, data from the Ministry of Trade, Industry and Resources (MOTIR) showed on Sunday. Imports rose 11.7% to $57.11 billion, widening the trade surplus to $8.74 billion, also a January record.

Semiconductor exports climbed 102.7% to $20.54 billion, as strong demand for artificial intelligence (AI) servers and related infrastructure sustained gains in memory and advanced chips. MOTIR said overall IT exports remained firm, while some traditional manufacturing sectors continued to show weakness. Energy imports fell