South korea: South Korea's exports of information and communication technology (ICT) products surged by 78 percent in January compared to the same period last year, driven by increasing global demand for artificial intelligence (AI) infrastructure projects, newly released data revealed on Thursday. The country's outbound shipments of ICT products reached a record-breaking $29 billion for the month, significantly up from $16.2 billion a year earlier, marking the highest export volume recorded for any January.

According to Yonhap News Agency, the Ministry of Science and ICT reported that imports also increased by 20 percent to $14 billion, resulting in a trade surplus of $14.9 billion. The ministry attributed this sharp growth to the rapidly expanding global AI industry, which has fueled stronger demand for high-performance ICT products. The data further highlighted that ICT products accounted for 44.1 percent of South Korea's total monthly exports of $65.8 billion, underscoring the sector's role as a key engine for the nation's economic growth.

The report detailed that exports of semiconductor products more than doubled year-on-year in January, reaching $20.5 billion. This growth was supported by higher global memory prices and consistent demand for premium products, such as high bandwidth memory (HBM) chips. Additionally, outbound shipments of displays increased by 19 percent to $1.5 billion, driven by organic light-emitting diode (OLED) products. Smartphone exports also saw a significant rise, shooting up 75.1 percent to $1.76 billion, largely due to premium offerings.

The data outlined export destinations, noting that shipments to China, including Hong Kong, nearly doubled to $11.7 billion, led by chips, handsets, and computers. Meanwhile, exports to the United States increased by 110 percent to $4.62 billion, with semiconductor exports nearly tripling to $2.37 billion.