Seoul: South Korea's exports of information and communication technology (ICT) products saw an increase of 5.8 percent in the first half of the year compared to the previous year, largely due to strong semiconductor sales driven by the growing demand for data centers, as indicated by government data released on Monday. Outbound shipments of ICT products reached US$115.16 billion in the January to June period, up from $108.83 billion a year earlier, according to the Ministry of Science and ICT.
According to Yonhap News Agency, ICT imports rose 5 percent year-on-year to $70.92 billion in the first six months, resulting in a trade surplus of $44.24 billion in the sector. By product category, semiconductor exports increased by 11.4 percent year-on-year to $73.31 billion, buoyed by demand for artificial intelligence (AI) chips and elevated chip prices. Exports of computers and communications equipment surged 10.8 percent to $6.64 billion, while mobile phone shipments grew by 9.1 percent to $6.08 billion.
Meanwhile, exports of display panels declined by 13.9 percent to $8.7 billion due to uncertainties in global consumer markets and inventory adjustments in related industries. Regarding export destinations, combined shipments to China and Hong Kong decreased by 11.5 percent year-on-year to $41.98 billion, reflecting reduced semiconductor demand.
Exports to the United States increased by 14.5 percent to $14.42 billion, whereas shipments to the European Union fell by 2.7 percent to $5.8 billion. Shipments to Vietnam rose by 10 percent to $19.06 billion, and exports to Japan increased by 5.7 percent to $1.95 billion.