South Korea's Ministry of Science and ICT reported a 24% year-on-year increase in the country's information and communication technology (ICT) exports for September, reaching $22.4 billion. This marks the second-highest record since March 2022 and continues an 11-month growth streak. Imports of ICT products rose by 15.9% to $12.5 billion, resulting in a trade surplus of $9.88 billion.
The surge in exports was largely driven by semiconductor sales, which rose 36.3% year-on-year to $13.6 billion, achieving a historic high and marking the 11th consecutive month of double-digit growth. The demand for memory chips, especially high-bandwidth storage chips, soared, with exports up 60.7% to $8.7 billion.
Smartphone exports grew by 25.1%, reaching $1.71 billion. Exports of computers and peripherals doubled, increasing by 104.8% to $1.64 billion, fueled by strong demand for auxiliary storage devices. However, exports of displays and communication equipment decreased by 5.1% and 28.7% to $1.9 billion and $160 million, respectively.
By destination, exports to Mainland China and Hong Kong rose 22.6% year-on-year to $9.18 billion, continuing an 11-month growth streak, primarily due to increases in chip and phone exports. Exports to the United States surged 39.9% to $3.04 billion, while exports to Vietnam rose 8.7% to $3.37 billion. Exports to the European Union also increased by 11.3% to $1.06 billion, and those to Japan grew by 2.3% to $350 million.
