South Korea's ICT Export Rises for 10th Month in August

The ICT products shipment surged 28.5 percent from a year earlier to 20.6 billion U.S. dollars in August, continuing to grow since November 2023, according to the Ministry of Trade, Industry and Energy.

Semiconductor export spiked 37.6 percent to 11.89 billion dollars in August, keeping a double-digit gain for the 10th straight month on strong demand for chips used in artificial intelligence (AI).

Display panel shipment reduced 5.8 percent to 2.01 billion dollars, but mobile phone export soared 60.1 percent to 1.57 billion dollars on robust demand for newly launched smartphones.

Shipment for computers and peripherals more than doubled to 1.61 billion dollars, but communications equipment export declined 9.1 percent to 190 million dollars.

Import for ICT products gained 5.0 percent over the year to 11.64 billion dollars in August, sending the trade surplus in the ICT industry to 8.96 billion dollars.

Import for chips increased by double digits, but those for display panels, computers and mobile devices lost ground in August.

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