MENA Newswire News Desk: South Korea’s exports of information and communication technology (ICT) products surged for the 11th consecutive month in September, driven primarily by robust semiconductor sales. According to data from the Ministry of Science and ICT, outbound shipments of ICT products totaled $22.4 billion, reflecting a 24% increase from $18.04 billion in the same period last year.
This monthly figure is the second highest since March 2022, highlighting South Korea’s significant presence in the global technology sector. Meanwhile, imports of ICT products also rose by 15.9% year-on-year, reaching $12.5 billion, and resulting in a trade surplus of $9.88 billion for the sector. Semiconductors were a key growth driver, with exports climbing 36.3% year-on-year to a record $13.6 billion in September.
This marked the 11th consecutive month of double-digit growth, propelled by strong global demand for advanced chips used in artificial intelligence (AI) servers and other high-tech applications. Memory chip exports saw particularly sharp growth, with shipments surging 60.7% year-on-year to $8.7 billion. Demand for high-bandwidth memory chips, essential for next-generation computing, was a significant contributor to this rise.
The sustained increase in ICT exports underscores South Korea’s pivotal role in the global semiconductor industry. As the world continues to embrace AI and data-driven technologies, South Korean tech firms are well-positioned to capitalize on the growing need for advanced computing infrastructure.