Global enthusiasm for artificial intelligence continues to fuel strong demand for high-performance semiconductors, propelling South Korea's exports to their most significant increase in nearly five decades.

This surge in export growth follows closely after the South Korean government, together with leading memory chip manufacturers Samsung Electronics Co Ltd and SK Hynix Inc, unveiled a substantial investment plan aimed at strengthening the nation's role within the global semiconductor supply chain.

Preliminary data released on Wednesday by the Ministry of Trade, Industry and Energy showed that exports in June soared by 70.9% year-on-year to reach a monthly record of $102.25 billion. This follows a revised increase of 53.4% in May and marks the fastest growth rate since October 1978.

The recorded jump comfortably surpassed the median forecast of a 57.3% increase from a survey of nine economists.

Imports for June rose by 30.1% to $66.10 billion, resulting in a trade surplus of $36.15 billion. This figure represents the first time the monthly surplus has exceeded the $30 billion mark, coming after a revised surplus of $27.04 billion in May.

The ministry highlighted that semiconductors remained the primary driver of the overall export expansion, with chip exports in June setting a new monthly record of $44.82 billion.