Korea’s ICT exports rise for 11th straight month in Septemper

Seoul: The Republic of Korea's exports of information and communication technology (ICT) products rose for the 11th consecutive month in September, driven by record sales of semiconductors, data showed Monday. Outbound shipments of ICT products came to US$22.4 billion last month, up 24 percent from $18.04 billion a year earlier, Yonhap News Agency reported, citing data from the Ministry of Science and ICT. The monthly tally marked the second highest since March 2022. Imports of ICT products increased 15.9 percent on-year to $12.5 billion, resulting in a trade surplus of $9.88 billion in the sector. By item, chip exports jumped 36.3 percent on-year to record an all-time high of $13.6 billion in September, posting a double-digit increase for the 11th straight month, amid strong global chip demand for artificial intelligence servers. In particular, outbound shipments of memory chips shot up 60.7 percent on-year to $8.7 billion as demand for high-value products, like high-bandwidth memory chips, increased. S ource: Emirates News Agency