South Korea's ICT exports hit record high in first half of the year

According to Yonhap News Agency, the Ministry of Science and ICT of South Korea said on the 14th that South Korea's exports in the information and communication technology (ICT) sector in the first half of this year reached 103.04 billion US dollars (about 666.937 billion yuan), setting the second highest record in the first half of the year. So far, South Korea's ICT exports have increased year-on-year for 13 consecutive months.

Looking at the June indicators alone, exports increased by 29.1% year-on-year to US$19.3 billion, maintaining growth for 13 consecutive months since June last year, setting a new record for June. Imports increased by 17.7% year-on-year to US$10.57 billion, resulting in a trade surplus of US$8.73 billion.

By export destination, exports to China (including Hong Kong, 28%), Vietnam (25.3%), the United States (31.6%), the European Union (50.7%), and Japan (19.6%) increased.

In terms of export items, semiconductor exports exceeded US$10 billion for two consecutive months, reaching US$11.23 billion, an increase of 21.3% year-on-year. Among them, system semiconductor exports reached US$3.13 billion, a record high. In addition, exports of displays (29.7%), organic light-emitting diodes (OLED, 61.2%) and components (11.2%) also increased.

On the import side, imports of semiconductors (26.3%) and computers and peripheral equipment (16.6%) increased, while imports of mobile phones (-14.1%) and monitors (-9.1%) decreased.

The South Korean Ministry of Science and ICT analyzed that the global economy is gradually recovering and the trend of digital transformation is accelerating, which has driven the demand for ICT equipment and boosted South Korea's ICT exports.