Korea's ICT exports in first half of year hit new high on AI boom

Korea's exports of ICT products in the first half hit a fresh six-month high, boosted by the AI boom, government data showed on Tuesday.

Outbound shipments of ICT products reached $253.9 billion in the January to June period, up 120.5 percent from a year earlier, the Ministry of Science and ICT said in a press release.

ICT imports rose 31.3 percent on year to $93.2 billion, resulting in a trade surplus of $160.7 billion, the data showed.

By product, semiconductor exports increased 162.5 percent on year to $192.4 billion, helped by strong demand for AI chips and high memory prices.

Exports of computers and communications equipment jumped 233.8 percent from a year earlier, topping the $20 billion mark for the first time for the six-month period. This was also due to increased shipments of solid-state drives, or SSDs, used in AI infrastructure, the ministry said.

Mobile phone exports rose 38 percent on year, and display exports inched up 3.8 percent during the cited period, according to the data.

By destination, combined shipments to China and Hong Kong jumped 141 percent on year. Exports to Vietnam climbed 74.5 percent, and shipments to the United States expanded by 215.6 percent.

For June alone, Korea exported $57.3 billion of ICT products, despite persisting uncertainties related to the conflict in the Middle East.

The country posted a trade surplus of $39.1 billion for the month, the highest monthly figure on record, the ministry said.

Yonhap