(REUTERS) The global AI investment boom is showing up in South Korea’s economy.
Figures out Monday showed the country’s exports rising at their fastest pace in over four decades.
They were up over 53% on the year in May.
That was ahead of forecasts and the biggest rise since January 1984.
It comes as tech firms spend giant sums on AI data centers, with much of that money flowing to South Korean chipmakers Samsung and SK Hynix.
Monday’s data showed exports of chips jumped nearly 170% in May, hitting a record monthly high of over $37 billion.
Sales of computers jumped over 290%, driven by demand for AI servers.
With Samsung and Hynix both now paying huge bonuses to their chip workers, market watchers say some of that money is showing up in rising retail sales and government tax receipts.
Last week, the country's central bank raised its growth forecast for the year on the back of it all.
The boom is also showing up on markets, with South Korea's benchmark Kospi index up over 100% just this year.
It's emerged as the world's best performer in an AI-driven rally.
Posted by: AAngeles/NET25 News
