South Korea's ICT exports hit an unprecedented monthly record in November, driven by a surge in semiconductor demand. The country's ICT product shipments soared 24.3% year-over-year to a staggering $25.45 billion, marking a consistent upward trend since February. This surge in exports surpasses the previous high of $25.40 billion recorded in September, fueled by the skyrocketing demand for chips. Chip exports, in particular, skyrocketed by 38.6%, reaching a record-breaking $17.27 billion, thanks to the strong demand for high-end products like DDR5 and HBM, which are integral to generative AI chipsets. While display panel shipments declined by 3.7% to $1.60 billion, mobile phone exports increased by 3.5% to $1.50 billion. Computer and peripheral shipments rose by 1.9% to $1.52 billion, and communications equipment exports climbed by 3.3% to $200 million. Despite a 2.7% increase in ICT product imports to $12.77 billion, South Korea's trade surplus in the ICT industry remained robust at $12.69 billion. Interestingly, imports for mobile phones, computers, and communications equipment experienced double-digit growth, while chip and display panel imports saw a more modest single-digit retreat last month.
