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South Korea Posts Historic Surge in Tech Exports
(MENAFN) South Korea has achieved an unprecedented milestone in technology exports, with November figures revealing explosive growth driven by insatiable global appetite for advanced semiconductors, official statistics released Sunday confirm.
According to data from the Ministry of Trade, Industry and Resources, the nation's information and communications technology product shipments skyrocketed 24.3 percent year-over-year to reach $25.45 billion last month, marking the tenth consecutive month of expansion since February.
The November total narrowly eclipsed the previous record of $25.40 billion set just two months prior in September, propelled by unprecedented semiconductor demand across global markets.
Semiconductor shipments alone surged 38.6 percent to an all-time peak of $17.27 billion, fueled by robust orders for premium memory products including double data rate 5 (DDR5) and high bandwidth memory (HBM) components essential for generative artificial intelligence (AI) chipsets.
Other technology sectors showed mixed performance. Display panel exports contracted 3.7 percent to $1.60 billion, while mobile phone shipments rose 3.5 percent to $1.50 billion.
The computer and peripherals category increased 1.9 percent to $1.52 billion, and communications equipment exports advanced 3.3 percent to $200 million.
Technology product imports grew 2.7 percent annually to $12.77 billion in November, resulting in a trade surplus of $12.69 billion for the ICT sector.
While mobile phone, computer, and communications equipment imports registered double-digit increases, semiconductor and display panel imports both declined by single-digit percentages during the period.
According to data from the Ministry of Trade, Industry and Resources, the nation's information and communications technology product shipments skyrocketed 24.3 percent year-over-year to reach $25.45 billion last month, marking the tenth consecutive month of expansion since February.
The November total narrowly eclipsed the previous record of $25.40 billion set just two months prior in September, propelled by unprecedented semiconductor demand across global markets.
Semiconductor shipments alone surged 38.6 percent to an all-time peak of $17.27 billion, fueled by robust orders for premium memory products including double data rate 5 (DDR5) and high bandwidth memory (HBM) components essential for generative artificial intelligence (AI) chipsets.
Other technology sectors showed mixed performance. Display panel exports contracted 3.7 percent to $1.60 billion, while mobile phone shipments rose 3.5 percent to $1.50 billion.
The computer and peripherals category increased 1.9 percent to $1.52 billion, and communications equipment exports advanced 3.3 percent to $200 million.
Technology product imports grew 2.7 percent annually to $12.77 billion in November, resulting in a trade surplus of $12.69 billion for the ICT sector.
While mobile phone, computer, and communications equipment imports registered double-digit increases, semiconductor and display panel imports both declined by single-digit percentages during the period.
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