South Korea’s ICT Exports Surge by 11.1% Amid Semiconductor Boom

Seoul: South Korea's exports of information and communications technology (ICT) products rose 11.1 percent year-on-year in August, driven by strong semiconductor sales. According to Yemen News Agency, citing data from the Ministry of Science and ICT, exports of ICT products reached $22.87 billion last month, marking an 11.1 percent increase from the same period a year earlier. This growth was primarily fueled by a significant rise in semiconductor exports, which hit a record high of $15.11 billion. The surge in semiconductor demand is attributed to the growing need for AI-related chips, despite ongoing US tariff measures. The data also revealed that while exports of telecommunications equipment increased by 1.8 percent, other sectors experienced declines. Exports of displays, mobile phones, and computers saw decreases of 9.4 percent, 15.4 percent, and 16.6 percent, respectively. ICT imports also showed an upward trend, rising 7.6 percent year-on-year to $12.53 billion. This resulted in a trade surplus of $ 10.34 billion in the ICT sector, highlighting the robust performance of South Korea's technology exports.