Industry ministry reports July ICT export record on AI demand

The industry ministry said that South Korea's July information and communications technology exports reached a July record, lifted by expanding global investment in artificial intelligence that increased demand for server memory and raised fixed memory prices.

Semiconductor shipments were up 178.8 percent from a year earlier. Semiconductor exports have increased for 17 consecutive months, with year-on-year growth above 100 percent for seven months in a row. The fixed price of an 8Gb DRAM chip reached $24.0 in July, while a 128Gb NAND chip was priced at $30.1. ICT goods accounted for 54.0 percent of total exports, their third consecutive month above half of national exports.

Display exports rose as smartphone and television makers bought more OLED panels. New-product demand and larger sales of premium models supported handset exports. Computers and peripherals extended a nine-month run of growth, backed by component shipments and demand for solid-state drives for AI servers. Telecommunications equipment exports grew on stronger sales of wireless devices to Vietnam and equipment for automotive electronics to India.

Exports to China, the largest destination, rose 194.7 percent, led by semiconductor shipments, up 246.0 percent. Shipments to Vietnam rose 115.7 percent, with semiconductors, displays, handsets and computers and peripherals all higher. Exports also rose to the United States, European Union, Taiwan, India and Japan.

July ICT imports rose 37.3 percent from a year earlier. From a year earlier, imports of semiconductors increased 57.6 percent, while mobile phone and computer and peripheral imports rose 44.7 percent and 31.0 percent, respectively. The ICT trade surplus remained in the 300억 달러 range for a third consecutive month.