S Korea’s ICT export hits record high on demand for chip

South Korea’s export of information and telecommunications technology (ICT) products hit a new record high in August on solid demand for locally-made semiconductors and display panels, a government report showed yesterday, reports Xinhua from Seoul.

The ICT export picked up 15.5 per cent over the year to 20.19 billion US.  dollars in August, topping 20 billion dollars for the first time since the relevant data began to be compiled in 1996, according to the Ministry of Trade, Industry and Energy.

The ICT export kept a double-digit growth for 21 months since December 2016 due mainly to robust demand for chips, of which export surged 30.4 percent to reach a fresh monthly high of 11.64 billion dollars last month.

Display panel shipment gained 5.8 per cent to 2.96 billion dollars on demand for organic light-emitting diode (OLED) panels.

Handset export tumbled 19.7 per cent to 1.32 billion dollars, the first decline in four months amid the stiffer global competition.

ICT product exports to China, Vietnam and the European Union (EU) posted a

double-digit increase last month, but those to the United States and Japan reduced in the month.

Imports in the ICT sector inched up 0.4 per cent to 8.65 billion dollars, sending the ICT trade surplus to 11.54 billion dollars.

 

S Koreas ICT export hits record high on demand for chip

South Koreas export of information and telecommunications technology (ICT) products hit a new record high in August on solid demand for locally-made semiconductors and display panels, a government report showed yesterday, reports Xinhua from Seoul. The ICT export picked up 15.5 per cent over the year to 20.19 billion US. dollars in August, topping 20 billion dollars for the first time since the relevant data began to be compiled in 1996, according to the Ministry of Trade, Industry and Energy. The ICT export kept a double-digit growth for 21 months since December 2016 due mainly to robust demand for chips, of which export surged 30.4 percent to reach a fresh monthly high of 11.64 billion dollars last month. Display panel shipment gained 5.8 per cent to 2.96 billion dollars on demand for organic light-emitting diode (OLED) panels. Handset export tumbled 19.7 per cent to 1.32 billion dollars, the first decline in four months amid the stiffer global competition. ICT product exports to China, Vietnam and the European Union (EU) posted a double-digit increase last month, but those to the United States and Japan reduced in the month. Imports in the ICT sector inched up 0.4 per cent to 8.65 billion dollars, sending the ICT trade surplus to 11.54 billion dollars.