Seoul: Exports of South Korean information and communication technology (ICT) products soared by 14 percent in September compared to the previous year, propelled by a record-breaking performance in semiconductor shipments, recent data revealed.
According to Yonhap News Agency, the Ministry of Science and ICT reported that outbound shipments of ICT products totaled $25.43 billion last month, marking the highest export volume recorded for any September. This significant rise in exports reflects a robust demand for South Korean ICT products on the global stage.
The data also showed that imports increased by 10.4 percent year-on-year to $13.78 billion, resulting in a trade surplus of $11.65 billion in the ICT sector. The ministry credited the substantial export growth to a 21.9 percent spike in semiconductor shipments, reaching $16.62 billion. This surge was largely driven by higher memory chip prices amid escalating investments in artificial intelligence (AI) servers by international corporations.
In addition, exports of display products saw a modest increase of 1.3 percent year-on-year, amounting to $1.92 billion. This growth was supported by a strong demand for organic light-emitting diode (OLED) products. However, the report noted a decline in exports of computers and peripheral devices, which fell by 10.1 percent to $1.47 billion. This decrease was attributed to base effects following last year's surge in solid-state drive (SSD) products related to AI data centers.