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South Korea’s information and communications technology exports more than tripled in October, fueled by surging global demand for semiconductors and data-center storage equipment tied to the artificial intelligence industry.
ICT exports reached $70.35 billion in October 2026, up 202% from $23.29 billion a year earlier, the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy said Nov. 15. The increase was the largest on record for the month and marked the first time the monthly year-over-year growth rate surpassed 200%.
Technology dominates South Korean exports
ICT exports exceeded $70 billion for a second consecutive month after rising from $59.98 billion in August to $75.15 billion in September. Technology products accounted for 61% of South Korea’s total October exports of $115.28 billion.
ICT imports rose 52.7% to $19.8 billion, leaving the sector with a trade surplus of $50.55 billion. The surplus remained above $50 billion for the second straight month.
Semiconductors drove the gains, with exports rising 259.4% to $56.47 billion and accounting for 80.3% of all ICT shipments. Memory-chip exports jumped 360.5% to $50.14 billion, including a 595.3% increase in DRAM exports to $33.77 billion. Strong demand for high-performance memory, additional demand centered on DRAM and higher memory prices supported the increase.
System semiconductor exports rose 32.5% to $5.66 billion, although foundry exports declined 6.9%. Overall semiconductor shipments fell from September, when they surpassed $60 billion for the first time.
Exports of computers and peripherals totaled $5.99 billion. Solid-state drive exports surged 584.3% to $5.64 billion as investment in AI data centers increased demand for high-capacity server storage.
Display exports rose 23.6% to $2.03 billion, supported by demand for organic light-emitting diode panels used in foldable smartphones and newly released laptops. Mobile phone exports increased 6.5% to $1.71 billion as sales of premium devices grew despite higher smartphone prices. Telecommunications equipment exports rose 26.5% to $230 million.
US demand accelerates
South Korean ICT exports to the United States climbed 522.4% from a year earlier to $15.56 billion. Semiconductor shipments to the U.S. rose 734.1%, while exports of computers and peripherals increased 766%.
The United States received $3.83 billion in South Korean SSD exports, representing 67.9% of the country’s total SSD shipments. The sharp growth reflected expanding U.S. investment in AI data centers and increased demand for high-performance memory chips and server storage.
Exports also increased across South Korea’s other major technology markets. Shipments to China and Hong Kong rose 213.1% to $27.11 billion, while exports reached $7.64 billion to Taiwan, $6.34 billion to Vietnam, $2.79 billion to the European Union, $880 million to India and $590 million to Japan.
Smaller companies see uneven gains
ICT exports by small and midsize companies rose 10.3% to $5.61 billion. Their semiconductor exports, however, fell 6.2%, including a 9.7% decline in system semiconductor shipments.
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