ICT exports log record-high growth in Oct. amid AI boom

South Korea's ICT exports surged to record highs in October, buoyed by the global artificial intelligence (AI) boom, according to data released by the Ministry of Science and ICT. Outbound shipments of ICT products reached $70.35 billion, more than tripling from $23.29 billion a year earlier, marking the second-highest monthly total on record.

ICT exports constituted 61 percent of the country's total outbound shipments, which totaled $115.28 billion for the month, remaining above 60 percent for three consecutive months. The semiconductor sector saw a remarkable increase, with exports soaring 259.4 percent year-on-year to $56.47 billion, driven by robust global demand for premium memory products and high memory prices.

Computer and accessory exports also saw significant growth, reaching $5.99 billion, more than five times their levels from a year earlier, fueled by high-capacity solid-state drives.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.