July ICT Exports Reach $53.36 Billion, Driven by Semiconductors and SSDs

In July, exports of information and communication technology (ICT) reached $53.36 billion, marking a 140.6% increase compared to the same month last year. The simultaneous rise in semiconductor and storage device exports indicates that the semiconductor boom is spreading to related industries. Total exports amounted to $98.89 billion, with ICT exports accounting for 54% of the total. Semiconductor exports surged to $41.02 billion, a 178.8% increase, attributed to the demand for artificial intelligence servers. Exports of computers and peripherals also rose to $4.94 billion, a staggering 353.9% increase, while SSD exports reached $4.51 billion, up 500.2%. The semiconductor boom is impacting various industries beyond the performance of production companies, including manufacturing equipment, wafers, and chemical materials. The increase in semiconductor supply could also affect the production structures of other industries such as automotive and electronics. However, the rise in semiconductor exports does not necessarily indicate a uniform recovery across the manufacturing sector, and the perception of the boom varies within companies. The sharp increase in July's ICT exports exemplifies the impact of the semiconductor cycle on the structure of the Korean industry.

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