South Korea ICT exports hit record growth in October on AI boom
Synopsis
South Korea's ICT exports more than tripled in October to US$70.35 billion — the fastest year-on-year growth ever recorded — as AI-fuelled demand for premium memory and server SSDs drove semiconductors up 259 percent. For three straight months, ICT has accounted for over 60 percent of all South Korean outbound shipments, making the country one of the clearest barometers of the global AI infrastructure buildout.
Key Takeaways
South Korea's ICT exports more than tripled year-on-year in October 2026 to US$70.35 billion — the sharpest growth rate on record.
Semiconductor exports surged 259.4 percent on-year to US$56.47 billion , driven by AI-related demand for premium memory and high memory prices.
Computer and accessories exports grew more than fivefold to US$5.99 billion , led by high-capacity server SSDs .
ICT products represented 61 percent of total South Korean exports — above 60 percent for three consecutive months.
Exports to China more than tripled to US$27.2 billion ; shipments to the United States grew more than sixfold to US$15.56 billion .
The Ministry of Science and ICT launched a joint emergency response team with Microsoft Korea after a global Microsoft 365 outage disrupted domestic businesses.
South Korea's exports of information and communication technology (ICT) products surged at the sharpest year-on-year pace ever recorded in October 2026, with outbound shipments more than tripling to US$70.35 billion from US$23.29 billion a year earlier, according to data released by the Ministry of Science and ICT. The historic growth rate is being attributed primarily to insatiable global demand driven by the artificial intelligence (AI) boom.
Record-Breaking Shipment Numbers
The US$70.35 billion October figure marks the second-highest monthly ICT export total on record, narrowly trailing the US$75.1 billion posted in September 2026. Notably, ICT exports accounted for 61 percent of South Korea's total outbound shipments of US$115.28 billion in October — the third consecutive month that ICT's share has remained above the 60 percent threshold, underscoring the sector's growing dominance in the country's export mix.
Semiconductors and Computers Lead the Surge
Semiconductor exports were the standout performer, shooting up 259.4 percent on-year in October to reach US$56.47 billion, fuelled by robust global demand for premium memory products and persistently elevated memory prices. High-capacity solid-state drives (SSDs) for servers powered a more-than-fivefold jump in computer and accessories exports to US$5.99 billion. Exports of mobile phones posted comparatively modest growth of 6.5 percent, reaching US$1.71 billion, supported by strong sales of premium handset models.
China and US Drive Destination Growth
Exports to China more than tripled to US$27.2 billion in October, with semiconductors and computers the primary contributors. Shipments to the United States grew more than sixfold to US$15.56 billion, according to the ministry's data. This comes amid a broader global AI infrastructure buildout, with US and Chinese hyperscalers aggressively expanding data centre capacity — a trend that has directly translated into record Korean memory and SSD demand.
Microsoft Outage Triggers Government Response
Separately, the Ministry of Science and ICT announced on Saturday that it will inspect disruptions to domestic companies' operations following a global outage of Microsoft's services. Microsoft 365 services experienced disruptions earlier this week, with some South Korean companies reportedly experiencing difficulty accessing emails on Friday. The ministry said it plans to work with Microsoft Korea to assess service restoration and gauge potential damage to users. It also announced the formation of a joint emergency response team with the company to continue monitoring the situation. The incident highlights growing corporate dependence on cloud-based productivity suites and the systemic risk that widespread outages can pose across national economies.
What to Watch Next
With AI-driven demand for high-bandwidth memory and advanced storage products showing no signs of abating, South Korea's ICT export trajectory heading into the final quarter of 2026 will be closely watched by global semiconductor investors and trade analysts. Any softening in US or Chinese data centre spending could, however, quickly alter the equation, given how concentrated the export surge has been in memory and SSDs.
Point of View
Korean memory makers book the revenues. The 259-percent semiconductor surge is not organic demand broadening; it is concentrated in premium high-bandwidth memory and server SSDs, meaning the moment AI capex moderates, the correction could be equally sharp. The Microsoft 365 outage subplot is the quiet warning buried in an otherwise triumphant data release: the same digital infrastructure that is driving South Korea's export boom is also the single point of failure for thousands of South Korean businesses, and a joint ministry-Microsoft response team is a thin safety net for that exposure.
NationPress
15 Nov 2026
Frequently Asked Questions
How much did South Korea's ICT exports grow in October 2026?
South Korea's ICT exports grew at the sharpest year-on-year pace ever recorded in October 2026, with outbound shipments more than tripling to US$70.35 billion from US$23.29 billion a year earlier, according to the Ministry of Science and ICT.
What drove South Korea's record ICT export growth?
The primary driver was the global artificial intelligence boom, which fuelled surging demand for premium memory chips and high-capacity server solid-state drives. Semiconductor exports alone jumped 259.4 percent on-year to US$56.47 billion in October.
Which countries received the most South Korean ICT exports in October?
China was the top destination, with exports more than tripling to US$27.2 billion, driven by semiconductors and computers. The United States was second, with shipments growing more than sixfold to US$15.56 billion.
What happened with the Microsoft outage in South Korea?
Microsoft 365 services experienced disruptions earlier in the week ending 15 November 2026, with some South Korean companies reporting difficulty accessing emails on Friday. The Ministry of Science and ICT announced it would work with Microsoft Korea to assess service restoration and formed a joint emergency response team to monitor the situation.
How significant is ICT to South Korea's overall export basket?
ICT products accounted for 61 percent of South Korea's total outbound shipments of US$115.28 billion in October 2026, marking the third consecutive month that ICT's share has remained above 60 percent — a sign of the sector's outsized role in the national economy.
