Data released by the South Korean government on Tuesday showed that exports of information and communication technology (ICT) products in March more than doubled compared to the same period last year, driven by robust growth in semiconductor demand fueled by the global artificial intelligence (AI) boom.

According to figures from the Ministry of Science and ICT, South Korea's ICT exports reached $43.51 billion last month, up from $20.52 billion a year earlier, setting a record high for the month of March.

Imports rose by 32.2% year-on-year to $16.15 billion, resulting in a trade surplus of $27.36 billion.

The Ministry of Science and ICT stated in a release, "Last month, ICT exports accounted for 50.5% of South Korea's total exports of $86.13 billion, reaffirming the sector's role as a core growth engine for the national economy."

By product category, semiconductor exports surged 151% year-on-year, rising from $13.06 billion in the same period last year to $32.84 billion, largely due to strong demand from global AI data centers.

Smartphone exports increased by 57% in March to $1.54 billion, supported by strong sales of newly launched premium models.

Exports of computers and related equipment nearly tripled, climbing from $1.31 billion a year ago to $3.59 billion, reflecting growing demand for solid-state drives (SSDs) from AI data centers.

In contrast, exports of display panels fell by 9.3% to $1.49 billion, primarily due to weak demand for organic light-emitting diode (OLED) products in the IT industry.

By destination, exports to the United States grew nearly threefold, rising from $2.77 billion in the same period last year to $8 billion, driven by strong sales of chips, smartphones, and computers.

Exports to mainland China and Hong Kong also more than doubled, increasing from $7.33 billion to $17.66 billion, similarly supported by rising semiconductor demand.