[South Korea's exports continued to grow strongly in August, AI demand drives chip boom] September 1st, South Korea's exports continued to grow strongly in August, and demand for artificial intelligence (AI) boosted chip shipments and the overall economy, which is expected to support the Bank of Korea's maintenance of a hawkish stance after two consecutive interest rate hikes. Data released by South Korea Customs on Tuesday showed that after adjusting for differences in working days, exports increased by 72.5% year-on-year in August, imports increased by 22.5%, and the trade surplus reached US$34.7 billion. Unadjusted exports rose 68.7%, compared with a revised 63% increase in July. Semiconductors remain the main driver of South Korea's export growth. Data showed that although rising energy prices and geopolitical tensions put pressure on other industries, external demand remained resilient, supporting the Bank of Korea's second consecutive 25 basis point interest rate hike last week.