South Korea's August exports jumped, led by AI-driven chip shipments,
reinforcing the Bank of Korea's recent hawkish stance. Customs data released
Tuesday showed exports up 72.5% YoY after working-day adjustment, imports up
22.5%, and a trade surplus of $34.7 bln; unadjusted exports rose 68.7% YoY
versus July's revised 63.0% increase. Semiconductors were the main driver;
higher energy costs and geopolitical strain pressured other sectors but external
demand remained resilient, supporting last week's second consecutive 25bp BOK
rate hike.
