S. Korea's ICT exports hit record high in May

SEOUL, June 15 (Xinhua) -- South Korea's exports of information and communications technology (ICT) products hit a record monthly high thanks to soaring semiconductor demand, government data showed Monday.

The shipment of ICT products spiked 128.9 percent from a year earlier to reach a new high of 47.79 billion U.S. dollars in May, surpassing 40 billion dollars for three consecutive months, according to the Ministry of Trade, Industry and Resources.

ICT exports continued to rise for 16 straight months since February 2025.

Chip exports skyrocketed 169.2 percent to 37.16 billion dollars, topping 30 billion dollars for a third successive month amid global investment in artificial intelligence (AI) infrastructure, which led to higher demand and price hikes for memory chips.

Display panel shipment gained 2.8 percent to 1.57 billion dollars, and mobile phone exports mounted 15.9 percent to 1.22 billion dollars.

Shipment for computers and peripherals soared 259.6 percent to 4.33 billion dollars due to robust demand for solid state drives (SSDs), and communications equipment export grew 3.7 percent to 210 million dollars.

Imports of ICT products surged 36.0 percent over the year to 15.70 billion dollars in May, sending the trade surplus in the ICT industry to 32.09 billion dollars.

Imports of chips, mobile phones and computers logged a double-digit growth, but display panel imports fell in single figures. Enditem