South Korea’s information and communications technology exports soared to a July record, driven by surging semiconductor and AI server component sales, highlighting the sector’s vital role in the nation’s trade landscape.
South Korea’s information and communications technology exports surged to a July record as artificial intelligence spending continued to drive demand for semiconductors, the industry ministry and the science ministry said. ICT shipments reached $53.36 billion last month, up 140.6% from a year earlier, while the sector’s trade surplus widened to $35.06 billion. The figures also meant ICT accounted for 54% of the country’s total exports in July, underscoring how heavily the broader trade picture now depends on chips and related hardware.
The sharp rise was led by semiconductors, which climbed 178.8% to $41.02 billion and extended their growth streak to 17 months. Government data showed the pace of chip export gains has now exceeded 100% year on year for seven consecutive months. Computer and peripheral device exports also jumped 353.9% to $4.94 billion, helped by stronger sales of solid-state drives for AI servers, while SSD exports alone rose 500.2% to $4.51 billion.
Other ICT categories also advanced, though more modestly. Mobile phone exports increased 62.6% to $1.55 billion, supported by new smartphone demand and stronger sales of higher-end models. Display exports edged up 0.5% to $1.77 billion as demand improved for OLED panels used in smartphones and televisions set for launch in the second half of the year.
Exports rose across most major markets. Shipments to China, including Hong Kong, climbed 194.7% to $22.01 billion, driven by a 246% increase in semiconductor exports. Sales to Vietnam rose 115.7% to $7.82 billion and exports to the United States gained 187% to $7.78 billion. The ministry also reported strong increases to the European Union, Taiwan, India and Japan. The comparison is especially striking against July 2023, when Korea’s ICT exports were falling at a double-digit rate amid weak chip prices and soft device demand.
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