Information and communications technology exports last month set a record high with nearly USD 60 billion driven by higher investment in artificial intelligence. Shown is an aerial view of Busan North Port. (Busan Port Authority)

By Lee Ji Yae

Information and communications technology (ICT) exports last month shattered a record high driven by higher investment in artificial intelligence (AI).

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT in a report on the sector's trade released on Sept. 14 said ICT exports reached USD 59.98 billion last month, a jump of 162.6% year on year, that led to a trade surplus of USD 41.37 billion, another record high.

Such shipments exceeded USD 50 billion for the third consecutive month, just missing USD 60 billion but still setting an all-time high. In two firsts, the trade surplus surpassed USD 40 billion and ICT exceeded 60% of the country's overall exports with 61%.

By product, exports of semiconductors skyrocketed 209% year on year, while those of mobile phones (23.2%), computers and peripherals (383.1%) and telecommunications equipment (11.5%) all increased.

Chip exports exceeded USD 40 billion for the third straight month thanks to rising spot prices amid surging demand for memory chips driven by capital investment by global tech giants amid sustained demand for AI computing.

Exports rose in all major markets like the U.S. (USD 9.46 billion), China (USD 27.32 billion), India (USD 1.04 billion), Vietnam (USD 7.01 billion), Japan (USD 560 million) and the European Union (USD 1.93 billion).

ljyhwa@korea.kr