South korea: South Korea's exports of information and communication technology (ICT) products hit a record high in August, driven by sustained global investments in artificial intelligence (AI), government data showed Monday.

According to Qatar News Agency, outbound shipments of ICT products reached $59.98 billion last month, up 162.6% from $22.84 billion a year earlier, citing a statement from the Ministry of Science and ICT. ICT products accounted for over 60% of the country's total exports in the month for the first time, the ministry added.

Imports in the sector rose 48.8% on-year to $18.61 billion, resulting in a trade surplus of $41.37 billion. It marked the first time that South Korea's ICT surplus topped the $40 billion mark, the ministry said.

By product, semiconductor exports surged 209% on-year to $46.67 billion, as demand related to AI infrastructure continued amid expanded investments from global big-tech companies. Exports of computers and communications equipment spiked 383.1% to $6.4 billion, while mobile phone shipments increased 23.2% to $1.64 billion, the data showed.

By destination, combined shipments to China and Hong Kong shot up 227.9%, while exports to the United States vaulted 306.5%. Shipments to Vietnam increased 81.4%, those to the European Union climbed 49.1% and those to India advanced 126.7% on-year.