ICT exports to Korea rise by 12% in October

SEOUL, November 13, 2017 (WAM) – The Republic of Korea’s ICT exports rose by 12.2% year-on-year during the month of October, thanks to strong shipments of semiconductors for artificial intelligence servers.

The Korean Yonhap News Agency reported that the value of ICT exports amounted to $23.3 billion last month, according to data issued by the Korean Ministry of Science and ICT, and this represents its highest level for any month of October.

Imports fell by 2.9% to $12.9 billion during the same period, resulting in a trade surplus of $10.3 billion.

Semiconductor exports jumped by 25.4% year-on-year, on the back of strong demand for advanced chips used in artificial intelligence servers, and an increase in global memory chip prices.

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