South Korea's October ICT Exports Hit $70.35 Billion as Chip Exports Jump 259.4%

South Korea's ICT exports reached $70.35 billion in October, rising 202.0% year over year and topping $70 billion for a second consecutive month. According to Sina Finance, South Korea's Ministry of Science and ICT and Ministry of Trade, Industry and Energy said in their October 2026 ICT Trade Trends report, released on the 15th, that exports had nearly tripled from $23.29 billion a year earlier, with growth exceeding 200% for the first time. Semiconductor exports, the main driver of growth, jumped 259.4% to $56.47 billion, accounting for 80.3% of ICT exports. As the AI industry expanded, demand for high-performance memory chips remained strong, DRAM demand outstripped supply, and chip prices stayed firm. Amid increased AI data-center investment, solid-state drive shipments surged 584.3%. Exports of computers and peripherals rose 439.3% to $5.99 billion. Display exports increased 23.6% to $2.03 billion, supported by stronger demand for OLED panels for foldable phones and notebook computers. Mobile phone exports rose 6.5% to $1.71 billion as higher-end smartphones lifted handset sales while average prices increased. Exports to the United States climbed 522.4% to $15.56 billion. ICT imports rose 52.7% to $19.8 billion from $12.96 billion a year earlier. The ICT trade surplus was $50.55 billion, below September's record $53.71 billion but within the $50 billion range for a second consecutive month.