South Korea's ICT exports top $70 billion for first time on AI chip demand

South Korea's information and communications technology exports surpassed $70 billion for the first time in September, reaching $75.15 billion as semiconductor demand tied to global artificial intelligence investment lifted shipments, the Ministry of Trade, Industry and Energy said Wednesday.

The total was up 195.8 percent from $25.40 billion a year earlier. The ICT trade surplus reached $53.71 billion, the first time it has exceeded $50 billion.

Semiconductors led the expansion, with exports of $60.33 billion, up 262.8 percent from a year earlier and accounting for 80.3 percent of all ICT shipments, on rising sales of high-value products for AI infrastructure and climbing fixed contract prices for mainstream memory chips. Computers and peripherals were the second-largest contributor, at $7.16 billion, up 393.0 percent, as AI data center investment drove solid-state drive shipments of $6.77 billion, up 532.0 percent.

Mobile phone exports rose 28.2 percent to $1.90 billion on higher shipments of components such as camera modules and increased sales of premium finished devices. Display exports fell 11.5 percent to $1.70 billion on reduced OLED demand after some smartphone makers adjusted launch schedules and continued pressure from customers to cut unit prices, while telecommunications equipment slipped 2.3 percent to $220 million on weaker demand for navigation equipment from Poland and Turkey and wireless communication devices from Japan.

Shipments to the United States jumped 420.1 percent to $15.17 billion, with semiconductors at $10.32 billion, up 700.1 percent, and computers and peripherals at $3.59 billion, up 654.7 percent. Exports to China, the largest single market, reached $30.40 billion, up 228.9 percent, led by semiconductors at $26.63 billion. ICT exports accounted for 62.1 percent of South Korea's total exports of $120.94 billion.

Imports of ICT goods rose 55.3 percent to $21.43 billion, with semiconductors, mobile phones and computers all increasing. Exports by small and mid-sized companies, including mid-tier firms, grew 21.7 percent to $6.65 billion, led by semiconductor shipments of $3.78 billion, even as displays, mobile phones and computers declined.