Seoul, July 14 (IANS) South Korea’s exports of information and communication technology (ICT) products rose 5.8 per cent in the first half from a year earlier, driven by robust semiconductor sales amid growing demand for data centres, government data showed on Monday.

Outbound shipments of ICT products reached US$115.16 billion in the January-June period, up from $108.83 billion a year earlier, the Ministry of Science and ICT said, reports Yonhap news agency.

ICT imports rose 5 percent on-year to $70.92 billion in the first six months, resulting in a trade surplus of $44.24 billion in the sector.

By product, semiconductor exports rose 11.4 percent on-year to $73.31 billion, helped by strong demand for artificial intelligence (AI) chips and high chip prices.

Exports of computers and communications equipment jumped 10.8 percent to $6.64 billion, while mobile phone shipments increased 9.1 percent to $6.08 billion, the data showed.

However, exports of display panels fell 13.9 percent to $8.7 billion amid growing uncertainty in global consumer markets and inventory adjustments in related industries.

By destination, combined shipments to China and Hong Kong dropped 11.5 percent on-year to $41.98 billion, reflecting weaker semiconductor demand.

Exports to the United States rose 14.5 percent to $14.42 billion, while shipments to the European Union fell 2.7 percent to $5.8 billion.

Shipments to Vietnam increased 10 percent to $19.06 billion, while exports to Japan climbed 5.7 percent to $1.95 billion.

Meanwhile, South Korean stocks traded marginally higher late on Monday morning led by gains in financial and retail shares. The benchmark Korea Composite Stock Price Index (KOSPI) had added 4.73 points, or 0.15 percent, to 3,180.50 as of 11:20 a.m.

Insurance shares were among the sharpest gainers, as industry leader Samsung Fire & Marine Insurance soared 9.51 percent and Hyundai Marine & Fire Insurance vaulted 6.35 percent.

Major retailers Lotte Shopping and Shinsegae rose 2.3 percent and 5.87 percent, respectively.

Leading cosmetics firm AmorePacific jumped 4.37 percent, and LG H&H advanced 2.88 percent.

However, market bellwether Samsung Electronics fell 0.96 percent, and leading battery maker LG Energy Solution dropped 1.87 percent.

—IANS

na/