South Korea’s information and communication technology (ICT) exports reached an unprecedented monthly high in May, propelled by robust global demand for cutting-edge semiconductors and other essential products within the rapidly expanding artificial intelligence (AI) ecosystem. This significant achievement was highlighted by recent data released on Sunday.
Total outbound ICT shipments from South Korea surged to a remarkable $47.79 billion last month. This represents an extraordinary 128.9 percent increase compared to the $20.88 billion recorded a year prior, as confirmed by official statistics from the Ministry of Science and ICT.
Notably, this stellar performance marks the first instance in history where South Korea’s monthly ICT exports have surpassed the $40 billion threshold for three consecutive months, underscoring the sustained growth trajectory of the nation’s tech sector, the ministry further stated.
While ICT imports also saw a significant rise of 36 percent year-on-year, reaching $15.7 billion, the country still achieved a substantial trade surplus of $32.09 billion within the critical technology sector.
Breaking down the figures by product category, semiconductor exports experienced an astounding 169.2 percent year-on-year surge, hitting $37.16 billion. This impressive growth was primarily fueled by sustained global investments in advanced AI servers and a notable increase in memory chip prices, according to the ministry’s analysis.
Meanwhile, shipments of computers and related equipment more than tripled from the previous year, reaching $4.33 billion. This significant increase directly reflects the escalating worldwide demand for high-performance solid-state drives (SSDs) specifically designed for use in burgeoning AI data centers.
Furthermore, South Korea’s smartphone exports also demonstrated robust growth, climbing a solid 15.9 percent year-on-year. Exports of display panels similarly contributed to the overall success, seeing a modest but positive increase of 2.8 percent compared to the previous year.
