The rapid growth of the artificial intelligence (AI) industry last year significantly boosted Korea’s semiconductor export performance, reaching an all-time high. According to the government’s annual information and communication technology (ICT) import and export trends released on Jan. 14, semiconductor exports amounted to $142.09 billion (208 trillion won), an increase of 42.5% compared to the previous year. This marked the highest annual figure on record.

The expansion of the AI market and the recovery in semiconductor demand led to a 72% increase in high-bandwidth memory (HBM) and other memory semiconductor exports, reaching $88.29 billion (129 trillion won). Overall ICT exports, including semiconductors, also hit a record high of $235 billion (344 trillion won) for the first time in two years. The United States’ semiconductor exports increased by 82.2% compared to the previous year, and mobile phone exports, mainly to China and Vietnam, rose by 12.7% to $14.43 billion (21 trillion won).

Last year’s annual ICT imports were $143.2 billion (210 trillion won), resulting in a trade surplus of $91.8 billion (135 trillion won) based on preliminary figures.