[DigitalToday reporter Jin-ho Lee (이진호)] South Korea’s ICT exports last month came close to $60 billion, posting a record high. Semiconductor exports more than tripled from a year earlier, supported by expanded investment in AI infrastructure.

The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy said on Sept. 14 that August ICT exports rose 162.6 percent from a year earlier to $59.98 billion. Imports increased 48.8 percent to $18.61 billion. The trade balance posted a $41.37 billion surplus.

August ICT exports hit a record, surpassing the previous high of $57.28 billion in June. Exports have exceeded $50 billion for three consecutive months since June. The ICT trade surplus also topped $40 billion for the first time. ICT accounted for 61.0 percent of total industry exports of $98.25 billion, exceeding 60 percent for the first time.

By item, semiconductor exports were the largest at $46.67 billion, up 209.0 percent from a year earlier. Demand for AI infrastructure from global big tech companies and rising fixed transaction prices driven by excess demand for memory affected the results. The year-on-year growth rate of semiconductor exports has been above 100 percent for eight consecutive months.

Exports of computers and peripheral devices rose 383.1 percent to $6.4 billion, the highest on record. Within that, SSD exports surged 479.5 percent to $5.98 billion. Mobile phone exports rose 23.2 percent to $1.64 billion. Higher sales of high value-added premium new products and increased exports of parts to overseas production bases such as China and Vietnam supported the results.

Exports of communications equipment rose 11.5 percent to $210 million. That reflected higher demand for parts for communications devices shipped to Vietnam, equipment for vehicle electronics in India and wireless communications devices in Japan.

In contrast, display exports fell 7.0 percent to $1.69 billion. OLED export value fell as pressure increased to cut unit prices of OLED panels used in finished products such as mobile phones.

By region, exports rose in most major markets. Exports to China and Hong Kong rose 227.9 percent to $27.32 billion. The United States rose 306.5 percent to $9.46 billion. In the United States, semiconductor exports rose 290.8 percent to $4.27 billion and computers and peripheral devices rose 913.3 percent to $4.12 billion.

Exports to Vietnam rose 81.4 percent to $7.01 billion and Taiwan rose 54.3 percent to $5.54 billion. The European Union rose 49.1 percent to $1.93 billion, India rose 126.7 percent to $1.04 billion and Japan rose 72.4 percent to $560 million.

August ICT imports rose 48.8 percent from a year earlier to $18.61 billion. Semiconductor imports rose 71.4 percent to $11.28 billion and mobile phones rose 79.4 percent to $1.05 billion. Computers and peripheral devices rose 39.9 percent to $1.82 billion. Communications equipment imports also increased 5.9 percent to $390 million. In contrast, displays fell 6.6 percent to $340 million.