S. Korea’s ICT exports surge in Sept. ’24

South Korea’s information and communications technology (ICT) exports continued their impressive growth in September 2024, reaching a new high of $22.4 billion. The trade surplus for ICT goods also expanded to $9.9 billion.

ICT exports increased by 24.0 per cent compared to the previous year, marking the second-highest level since March 2022 and continuing an upward trend for the 11th consecutive month.

Semiconductors led the way, with exports surging 36.3 per cent year-on-year to $13.6 billion. Memory chips and system chips both recorded significant increases, a report from Ministry of Trade, Industry and Energy (MOTIE) on Monday.

US exports increased by 39.9 per cent to $3.0 billion, marking the 11th consecutive month of growth. Semiconductors and computers/peripherals saw significant increases, driven by demand for servers and datacenters.

Attribution: Ministry of Trade, Industry and Energy report

Subediting: M. S. Salama