According to Yonhap News Agency, outbound shipments of ICT products reached US$19.4 billion last month, a significant 32.8 percent increase from $14.6 billion in the same period last year. Imports also rose by 6 percent on-year to $12.1 billion, leading to a substantial trade surplus of $7.28 billion in the sector.
Chip exports, which saw a 49 percent surge to $11.2 billion, drove much of the growth, benefiting from robust global demand that has been spurred by developments in artificial intelligence and a rebound in the IT device market. Notably, memory chips, including high-bandwidth varieties, saw an 89 percent jump in exports, reaching $6.8 billion, propelled by rising DRAM prices and expanding demand for advanced products.
The electronics sector also showed positive trends, with display exports inching up by 2 percent to $1.93 billion and mobile phone exports skyrocketing by 69.4 percent to $1.23 billion, primarily due to increased component demand from China and Vietnam. Additionally, computer and peripheral exports climbed by 51.1 percent to $1.31 billion, largely driven by the growing data center market. However, communications equipment exports slightly declined by 2.4 percent to $190 million.
Geographically, exports to China and Hong Kong were particularly strong, rising 31.1 percent on-year to $7.92 billion. This increase was mainly due to higher shipments of chips and displays. Sales to Vietnam and the United States also showed significant increases of 23.7 percent and 40.1 percent, respectively, with Vietnam buying more chips and mobile phones and the U.S. purchasing more chips and computers. Conversely, exports to Japan experienced a substantial decrease, dropping 34.7 percent to $270 million.
These figures underscore South Korea's growing influence in the global ICT market and highlight the country's pivotal role in supplying critical technology components worldwide.