South Korea's ICT Exports Surge Amid Rising Chip Demand
Synopsis
In March, South Korea's ICT exports more than doubled compared to last year, propelled by a surge in semiconductor demand linked to the global AI boom. This marks a historic milestone for the nation's economy.
Key Takeaways
South Korea's ICT exports doubled in March.
Total exports reached $43.51 billion.
Semiconductor exports increased by 151%.
Strong demand from AI data centers drove growth.
Trade surplus in the ICT sector was $27.36 billion.
Seoul, April 14 (NationPress) The exports of information and communication technology (ICT) products from South Korea saw an impressive increase in March, more than doubling compared to the same month last year, fueled by heightened demand for semiconductors during the global artificial intelligence (AI) surge, as reported by government data on Tuesday.
According to the Ministry of Science and ICT, the total value of outbound ICT shipments reached US$43.51 billion last month, a significant rise from $20.52 billion in March of the previous year, as noted by Yonhap news agency.
This achievement marks a historic milestone, being the first time that March ICT exports have surpassed $40 billion.
Imports also grew by 32.2 percent year-on-year, amounting to $16.15 billion, which led to a trade surplus of $27.36 billion in this sector.
The ministry highlighted that ICT exports represented 50.5 percent of the nation's total exports, which totaled $86.13 billion last month, underscoring the sector's crucial role as a growth driver for the South Korean economy.
Examining the products, semiconductor exports skyrocketed by 151 percent, reaching $32.84 billion from $13.06 billion a year prior, bolstered by strong demand from global AI data centers.
Smartphone exports also rose significantly, climbing 57 percent on a year-over-year basis to $1.54 billion in March, driven by the successful sales of newly introduced premium models.
Additionally, shipments of computers and associated equipment nearly tripled, hitting $3.59 billion compared to $1.31 billion, a trend reflecting the growing need for solid-state drives (SSDs) utilized in AI data centers.
Conversely, exports of display panels experienced a decline of 9.3 percent, falling to $1.49 billion, primarily due to diminished demand for organic light-emitting diode (OLED) products in the IT sector.
When looking at the destinations, exports to the United States nearly tripled, reaching $8 billion from $2.77 billion a year earlier, driven by robust sales of chips, smartphones, and computers.
Exports to China, including Hong Kong, also saw a significant increase, more than doubling to $17.66 billion from $7.33 billion, primarily propelled by semiconductor demand.
In other news, the South Korean won appreciated against the US dollar on Tuesday, following expectations of renewed discussions between Washington and Tehran after a recent ceasefire. The won opened at 1,478.8 per dollar, gaining 10.5 won from the last session’s close.
This increase was supported by reports from foreign media suggesting that the United States and Iran might resume peace talks after their recent negotiations in Islamabad ended without a resolution.
Point of View
The remarkable growth in South Korea's ICT exports is a testament to the country's adaptability and leadership in technology. The surge, primarily driven by semiconductor exports, not only enhances the nation's economic landscape but also solidifies its position as a key player in the global market. This development calls for strategic planning to maintain momentum in the face of evolving industry demands.
NationPress
1 May 2026
Frequently Asked Questions
What factors contributed to the rise in ICT exports?
The rise in ICT exports was significantly driven by strong semiconductor demand, particularly from global AI data centers, as well as increased sales of smartphones and computer equipment.
How much did South Korea's ICT exports total in March?
In March, South Korea's ICT exports reached a total of $43.51 billion.
What products saw the most significant export increases?
Semiconductor exports surged by 151 percent, while smartphone exports increased by 57 percent and computer shipments nearly tripled.
What was the trade surplus in the ICT sector?
The trade surplus in the ICT sector amounted to $27.36 billion.
How did exports to the US and China perform?
Exports to the US nearly tripled to $8 billion, while exports to China more than doubled to $17.66 billion.
