Electronics, telecommunications shipments hit record high in 2024 on AI demand

Shipments in Korea's electronics and telecommunications sectors reached a record high in 2024, largely fueled by strong demand in artificial intelligence (AI), data showed Wednesday. Combined shipments from manufacturers and mining companies with more than 10 employees reached a tentative total of 2,090.2 trillion won ($1.41 trillion) last year, up 97.7 trillion won, or 4.9 percent, from a year earlier, according to data from the Ministry of Data and Statistics. Notably, shipments from domestic electronics and telecommunications companies totaled 340.5 trillion won, marking an increase of 71.2 trillion won, or 26.4 percent, from the previous year. This was the highest shipment figure in this sector since 2008, when statistics began being compiled under the current methodology. The value added in the electronics and telecommunications sector rose to 169.4 trillion won, up 55.2 trillion won, or 48.4 percent, from 2023, making it the third highest on record, following 2022 and 2021. The ministry attributed the growth to a surge in AI demand, which drove a sharp increase in memory semiconductWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times