Semiconductors lead growth... In November, ICT export value reached $25.4 billion, setting a new record high

In November last year, our country’s information and communication technology (ICT) export volume increased by 24.3% year-on-year, setting a new record high. The strong performance of semiconductors has become the main driving force, with the global demand recovery and outstanding performance of high value-added products boosting the improvement in results.

According to the “ICT Import and Export Trends” released by the Ministry of Science and Technology, Information, and Communications on December 14, the ICT export volume in November reached $25.45 billion, a 24.3% increase compared to the same month last year, marking the highest November level ever. This is the tenth consecutive month of growth and the fourth time this year that a new record high has been set. Notably, the ICT export volume exceeded $25.4 billion, ranking third after September (second place) and October (third place), with November reaching the highest position.

The core driver of this export growth is undoubtedly semiconductors. In November, semiconductor exports alone reached $17.27 billion, a year-on-year surge of 38.6%, setting a new record high. This was due to the recovery of fixed transaction prices for memory semiconductors, especially DRAM and NAND flash, as well as the sustained demand for high value-added products such as high bandwidth memory (HBM). The semiconductor category alone led the overall ICT export growth, becoming the key driver of South Korea’s export prosperity.

By category, excluding semiconductors, there were small increases in mobile phones (3.5%), communication equipment (3.3%), and computers and peripherals (1.9%). However, the display panel sector decreased by 3.7% year-on-year, which is attributed to stagnation in global display demand and intensified technological competition.

ICT imports also increased slightly to $12.77 billion, but because exports grew faster, the ICT trade balance achieved a surplus of $12.69 billion, also a new record high. This confirms that South Korea’s ICT industry remains highly competitive.

This trend is likely to continue into next year. With the expansion of high-growth industries such as artificial intelligence (AI), cloud computing, and autonomous driving, demand for ICT products centered on semiconductors is expected to keep growing. The government plans to support this momentum through the promotion of export diversification strategies and technological upgrading policies.