ICT exports log record-high growth in Oct. amid AI boom
South Korea's exports of information and communication technology (ICT) products rose at the sharpest pace on record from a year earlier in October, data showed Sunday, driven by the global artificial intelligence (AI) boom. Outbound shipments of ICT products came to $70.35 billion in October, more than tripling from $23.29 billion a year earlier, according to data compiled by the Ministry of…
South Korea's information and communication technology (ICT) exports surged to a record high in October, buoyed by the worldwide artificial intelligence (AI) surge. According to data released by the Ministry of Science and ICT, ICT product shipments amounted to $70.35 billion in October, more than triple the $23.29 billion recorded a year earlier.
This marked the second-highest monthly total on record, slightly below the $75.1 billion achieved in September. Additionally, ICT exports comprised 61 percent of South Korea's total outbound shipments, which totaled $115.28 billion for the month, maintaining a consistent high above 60 percent for three consecutive months.
Semiconductor exports saw a remarkable 259.4 percent increase on-year in October, reaching $56.47 billion, primarily driven by robust global demand for premium memory products and sustained high memory prices. Computer and accessory exports also expanded significantly, hitting $5.99 billion in October, more than five times the $1.15 billion shipped a year earlier, with a surge in high-capacity solid-state drives (SSDs) contributing to the growth.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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