Seoul: The Republic of Korea's information and communication technology (ICT) exports reached a significant milestone in March, more than doubling from the previous year. This surge was largely fueled by strong semiconductor demand in the wake of a global artificial intelligence (AI) expansion, as revealed by government data.
According to Emirates News Agency, outbound ICT shipments totaled $43.51 billion last month, a substantial increase from $20.52 billion in March of the previous year. This marks the first instance of monthly ICT exports exceeding $40 billion in March, highlighting the sector's rapid growth.
Imports of ICT products also saw a rise, increasing by 32.2 percent year-on-year to $16.15 billion. This resulted in a trade surplus of $27.36 billion within the sector, underscoring its economic significance.
ICT exports represented 50.5 percent of Korea's total exports of $86.13 billion for the month, solidifying the sector's role as a pivotal growth engine for the nation's economy, as noted by the Ministry of Science and ICT.
Semiconductor exports, in particular, experienced a significant surge of 151 percent, reaching $32.84 billion, up from $13.06 billion the previous year. This growth was driven by strong global demand from AI data centers.
