[News] Korean Semiconductor Exports Hit a New High, with Memory Shipment up by 88.7%

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According to a report by Yonhap News Agency, data released by Korea’s Ministry of Science and information and communication technology ICT on July 15 shows that in the first half of this year, Korea’s ICT industry exports grew by 28.2% YoY to USD 108.85 billion, setting the second-highest record for the same period in history.

Fueled by demands in the AI, IT information technology, and telecommunications equipment markets, semiconductor exports, one of Korea’s main export products, surged by 49.9% YoY, reaching USD 65.83 billion.

On a market segment basis, Korea’s memory exports in the first half of the year saw a hike of 88.7% YoY, driven by increased exports of products like high bandwidth memory (HBM).

Due to increased investment in server and data center as well as increased demand for personal computer and other devices, exports of computers and peripheral devices rose by 35.6% YoY; instead, mobile phone exports decreased by 2.8% YoY to USD 5.58 billion.

In June, ICT exports grew by 31.1% YoY, reaching USD 21.05 billion, the highest value for the same month in history. Semiconductor exports were USD 13.44 billion, also setting a record high for the same month. Notably, memory chip exports soared by 85.2% YoY, reaching USD 8.83 billion.

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(Photo credit: SK Hynix)