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South Korea's ICT Exports Double to Record $43.5B on AI Chip Boom

South Korea's information and communication technology exports more than doubled in March to a record $43.51 billion, fueled by soaring global demand for semiconductors used in artificial intelligence. Semiconductor exports alone skyrocketed 151% to $32.84 billion, driven by robust orders from AI data centers. The surge helped ICT goods account for over half of the country's total exports, generating a massive trade surplus of $27.36 billion for the month. While exports to the United States and China more than doubled, display panel shipments declined due to weaker demand for OLED products.

Key Points: S. Korea ICT Exports Double in March, Led by AI Chip Demand

  • Exports hit record $43.51B
  • Semiconductor sales surged 151%
  • Trade surplus reached $27.36B
  • U.S. and China were top destinations
2 min read

ICT exports more than double in March on chip demand: S. Korea

South Korea's ICT exports surged 112% to a record $43.51B in March, driven by booming global AI semiconductor demand, data shows.

"ICT exports accounted for 50.5 percent of the country's total exports... reaffirming the sector's status as a core growth engine - Ministry of Science and ICT"

Seoul, April 14

South Korea's exports of information and communication technology products more than doubled in March from a year earlier, driven by strong semiconductor demand amid the global artificial intelligence boom, government data showed on Tuesday.

Outbound ICT shipments reached US$43.51 billion last month, up from $20.52 billion a year earlier, according to the data from the Ministry of Science and ICT, reports Yonhap news agency.

This marks the first time that monthly ICT exports have exceeded $40 billion for the month of March.

Imports rose 32.2 percent on-year to $16.15 billion, resulting in a trade surplus of $27.36 billion in the sector.

"ICT exports accounted for 50.5 percent of the country's total exports of $86.13 billion last month, reaffirming the sector's status as a core growth engine of the South Korean economy," the ministry said in a release.

By product, semiconductor exports surged 151 percent to $32.84 billion from $13.06 billion a year earlier, supported by robust demand from global AI data centres.

Smartphone exports jumped 57 percent on-year to $1.54 billion in March, driven by strong sales of newly launched premium models.

Shipments of computers and related equipment nearly tripled to $3.59 billion from $1.31 billion, reflecting rising demand for solid-state drives (SSDs) used in AI data centres.

In contrast, exports of display panels fell 9.3 percent to $1.49 billion, weighed down by weak demand for organic light-emitting diode (OLED) products in the IT sector.

By destination, exports to the United States nearly tripled to $8 billion from $2.77 billion a year earlier, led by strong sales of chips, smartphones and computers.

Exports to China, including Hong Kong, more than doubled to $17.66 billion from $7.33 billion, also driven primarily by semiconductor demand.

Meanwhile, the South Korean won strengthened against the US dollar on Tuesday amid expectations that Washington and Tehran may resume talks following their recent ceasefire. The won opened at 1,478.8 per dollar, up 10.5 won from the previous session's close.

The gain came after foreign media reported that the United States and Iran could resume peace talks after their round of negotiations in Islamabad over the weekend ended without a breakthrough.

- IANS

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Reader Comments

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Priyanka N
$27 billion trade surplus from just one sector! That's mind-boggling. While it's great for them, it's a reminder of our own import dependence for electronics. We export software talent but need to build hardware capacity. Hope the new semiconductor plants in Gujarat and UP change this story.
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Aman W
The numbers are impressive, but let's not forget the geopolitical angle. Exports to China more than doubled. This shows how interconnected global tech supply chains are, despite tensions. India's strategy needs to be smart about partnerships and self-reliance (Atmanirbhar) both.
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Sarah B
As someone working in tech, the surge in SSD demand for AI data centers is the key takeaway. The AI infrastructure race is real. Indian IT companies need to pivot faster from services to building and owning these core hardware-driven solutions.
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Vikram M
Good for them! Samsung and SK Hynix are giants. But reading this, I feel a bit worried. So much of the world's chips come from one region (Korea-Taiwan). What if there's disruption? India has to become a reliable alternative. The demand is clearly there.
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Kiran H
With respect, while we applaud South Korea, our policy focus sometimes seems scattered. We announce big semiconductor plans, but the ground reality of clearances, infrastructure, and skilled manpower for fabs is a different challenge. We need execution, not just announcements. Jai Hind.

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