Korea’s September exports to China jump 122.7% to $26.0bn — total exports hit a record $120.9bn

According to the Ministry of Trade, Industry and Energy’s “September 2026 Trade Report” released on 1 October, exports in September reached $120.9bn, up 83.5% from a year earlier and the highest monthly figure on record. Exports to China rose 122.7% to $26.01bn, keeping China as the largest destination. Here is how Korean businesses operating in China should read the numbers.

By the editorial desk

The numbers first

September exports came to $120.9bn, up 83.5% year on year. That beats the previous monthly record of $102.0bn set in June, and it is the first month above $120bn. Average daily exports were $5.63bn, up 105%. Imports rose 26% to $71.09bn, leaving a trade surplus of $49.85bn.

By destination, China was the largest at $26.01bn (+122.7%), followed by the United States at $24.33bn (+137%) and ASEAN at $21.29bn (+92.6%). It was the first time monthly exports to ASEAN passed $20bn. By our own calculation from the reported figures, exports to China were about 21.5% of the total.

What drove it

Financial News reported that rising AI data-centre investment and higher memory prices pushed semiconductor exports up. Chip exports were $60.3bn, up 262.8%, beating the August record ($46.7bn) within a month. Computer exports rose 435.3% to $7.0bn. The ministry said items other than semiconductors also grew 23%.

Year-to-date exports of $814.5bn have already passed all of last year ($709.3bn). Financial News quoted a ministry official as saying that if exports hold at around $100bn a month for the next two months, Korea could reach $1 trillion in annual exports between late November and early December. The official named spreading protectionism and Middle East tensions as risks.

Three things Korean businesses in China should take from this

First, the pace of growth in exports to China picked up. In the Korea Customs Service’s provisional 1–20 September figures, exports to China were up 113.8%; for the full month the figure is 122.7%. Following August ($24.1bn, +119.3%), Korea–China trade keeps expanding. But exports to the US (+137%) and ASEAN (+92.6%) also surged, so this is not a China-only story.

Second, chips are still the centre of the boom. Semiconductors were 49.9% of all exports. Exports excluding chips also grew 23%, but the reports we reviewed give no breakdown of exports to China by item. If your company in China deals in parts, materials or consumer goods, check the trend for your own product category rather than relying on the “record high” headline. Item-level data on exports to China is available from the Korea Customs Service and the Korea International Trade Association.

Third, look at price effects and outside risks together. The reports say higher chip prices were one factor lifting export value. How much came from volume and how much from price cannot be told from these reports alone. Officials also cited protectionism and the Middle East as risks. When planning for next year, it is safer to leave some margin rather than extend a single strong month.

Note that these figures come from press reports of the ministry’s release; detailed statistics should be checked against the final data from the ministry and the Korea Customs Service.

※ This article is an automatically generated draft based on reporting by Hankook Ilbo, Money Today, Financial News and Economy Times (1 October 2026). Editorial review is required before publication.