Last month, Korea's information and communications technology (ICT) exports hit an all-time high despite uncertainty in the global trade environment. Buoyed by strong semiconductor exports, the trade balance also posted the second-largest surplus on record.
According to the Ministry of Science and ICT on the 14th, ICT exports in September totaled $25.43 billion, up 14.0% from the same month a year earlier, setting a record high since statistics began. In particular, semiconductor exports led the overall performance. Semiconductor exports came to $16.62 billion, up 21.9% from a year earlier, marking an all-time high for the second straight month after August.
Display exports also showed signs of recovery. As the use of OLED panels expanded in IT devices and demand revived in downstream industries such as mobile phones and laptops, display exports rose 1.3% to $1.92 billion.
In the mobile phone sector, fierce competition among parts makers drove parts exports down 23.6% to $1.07 billion, but exports of finished goods surged 55.8% to $420 million, easing the overall decline. By contrast, exports of computers and peripherals fell 10.1% to $1.47 billion. This was due to a base effect from last year's surge in exports of SSDs for artificial intelligence (AI) data centers. However, SSD exports to the Netherlands, a key data center hub in Europe, jumped 69.2%, partially offsetting the decline.
By region, Taiwan stood out. With a sharp increase in semiconductor exports, shipments to Taiwan jumped 53.5% from a year earlier to $4.29 billion.
Meanwhile, ICT imports in September rose 10.4% to $13.78 billion, resulting in a trade surplus of $11.65 billion. This was the second-largest surplus on record.