S. Korea Posts Surge in August ICT Exports
(MENAFN) South Korea’s exports of information and communications technology (ICT) products climbed for the seventh consecutive month in August, fueled by a sharp rise in semiconductor shipments, government data revealed on Sunday.
According to the Ministry of Trade, Industry and Energy, ICT product exports soared 11.1 percent year-on-year to reach $22.87 billion, extending the growth streak that began in February.
The standout performer was chip exports, which surged 27.0 percent to a record $15.11 billion amid strong demand for advanced components like double data rate 5 (DDR5) and high bandwidth memory (HBM) chips used in generative artificial intelligence (AI) processors.
However, not all sectors shared in the gains: display panel shipments declined 9.4 percent to $1.82 billion, and mobile phone exports fell 15.4 percent to $1.33 billion.
Shipments of computers and peripherals also contracted 16.6 percent, totaling $1.34 billion, while communications equipment exports edged up 1.8 percent to $190 million.
On the import side, ICT product imports rose 7.6 percent year-on-year to $12.53 billion in August, pushing the ICT industry’s trade surplus to $10.34 billion.
Mobile devices, computers, and communications equipment saw double-digit import growth, contrasting with a single-digit drop in display panel imports.
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