Korea's ICT exports mark record high on sustained AI investments

Korea's information and communication technology (ICT) exports soared to a record high in August, propelled by ongoing global investments in artificial intelligence (AI), according to government data released on Monday. The ministry of Science and ICT reported that ICT product shipments totaled $59.98 billion, a staggering 162.6% increase from the previous year's $22.84 billion. For the first time, ICT products constituted more than 60% of the country's total exports that month.

The surge in exports was primarily driven by semiconductor products, which jumped 209% on-year to $46.67 billion. This surge in semiconductors was fueled by the growing demand for AI infrastructure, supported by expanded investments from major global tech companies.

Other ICT product categories also saw significant growth. Computer and communications equipment exports jumped by 383.1% to $6.4 billion, while mobile phone shipments increased by 23.2% to $1.64 billion. These figures underscore the rapid expansion of Korea's technology exports, which now dominate the nation's overall export volume.