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Industry

March ICT exports top $40 billion for first time, driven by AI and semiconductors

South Korea’s information and communications technology exports rose 112 percent in March from a year earlier to $43.51 billion, while imports increased 32.2 percent to $16.15 billion, producing a trade surplus of $27.36 billion. The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy said ICT exports exceeded $40 billion for the first time and extended gains for a 14th straight month, accounting for 50.5 percent of total exports.

Industry

Trump launches Section 301 probe into 16 economies, cites evidence of overcapacity in South Korea

The Trump administration has opened a Trade Act Section 301 investigation into 16 economies including South Korea, citing unfair trade practices linked to overcapacity and goods made with forced labor. USTR said targeted economies sustained U.S. trade surpluses through intentional overproduction. It cited South Korea’s trade swing from a $10 billion deficit in 2023 to a $52 billion surplus in 2024. The probe will take comments, hold a hearing and then decide possible measures.

Industry

February ICT exports jump 103.3 percent to $33.62 billion

South Korea\'s ICT exports rose 103.3 percent in February from a year earlier to $33.62 billion, while imports climbed 19.6 percent to $13.05 billion, resulting in a $20.57 billion trade surplus. The science ministry and industry ministry said exports set a record for February despite three fewer working days due to the Lunar New Year holiday. Semiconductors, mobile phones and computers rose, while displays and communications equipment fell.