Korea's H1 ICT exports hit fresh high on AI boom: data

Korea's exports of information and communication technology (ICT) products in the first half hit a fresh six-month high, boosted by the artificial intelligence (AI) boom, government data showed Tuesday. Outbound shipments of ICT products reached $253.9 billion in the January-June period, up 120.5 percent from a year earlier, the Ministry of Science and ICT said in a press release. ICT imports rose 31.3 percent on-year to $93.2 billion, resulting in a trade surplus of $160.7 billion, the data showed. By product, semiconductor exports increased 162.5 percent on-year to $192.4 billion, helped by strong demand for AI chips and high memory prices. Exports of computers and communications equipment jumped 233.8 percent from a year earlier, topping the $20 billion mark for the first time for the six-month period. This was also due to increased shipments of solid state drives (SSD) used in AI infrastructure, the ministry said. Mobile phone exports rose 38 percent on-year, and display exports inched up 3.8 percent during the cited period, according to the data. By destination, combined shipments to