ICT Exports Near $60 Billion as AI Boom Lifts Share Past 60%

Information and communications technology exports accounted for more than 60% of South Korea's total exports last month for the first time, driven by expanding artificial intelligence investment worldwide.

ICT exports totaled $59.98 billion in August, up 162.6% from a year earlier, according to data released on the 14th by the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy. That marked the highest monthly figure on record, with ICT exports exceeding $50 billion for a third straight month since June. ICT shipments made up 61% of the country's total exports of $98.25 billion last month, the first time the share has topped 60%.

Semiconductors led the gain. Chip exports reached $46.67 billion in August, up 209% from a year earlier. Demand for AI infrastructure has remained solid as global big tech companies expand capital spending, while fixed transaction prices have continued to climb amid excess demand for memory chips.

Exports of computers and peripherals surged 383.1% year-on-year to $6.4 billion, lifted by higher shipments of enterprise solid-state drives as AI data processing expands. Telecommunications equipment exports rose 11.5% over the same period, helped by stronger demand for handset components in Vietnam, automotive electronics equipment in India and wireless communications devices in Japan. Mobile phone exports climbed 23.2% from a year earlier.

Display exports, however, fell 7% from a year earlier to $1.69 billion. An official at the Ministry of Science and ICT said mounting pressure to cut prices for organic light-emitting diode panels used in finished products such as mobile phones led to a drop in OLED exports, pulling overall display shipments lower.