South Korea’s ICT exports see consecutive growth for 5 months
South Korea exported US$16.4 billion worth of information and communications technology (ICT) goods in October, recording a 6% year-on-year rise and its fifth consecutive month of increase.
Exports to all major regions rose, except to Japan, which fell 9.9% to US$307 million due to lower demand for semiconductors and displays, highlighted the Ministry of Trade, Industry and Energy.
ICT exports to China rose 0.7% to US$7.4 billion, due to demand for semiconductors and mobile phones. Meanwhile, exports to Vietnam rose by 28.2% to US$2.9 billion, riding the demand for displays and semiconductors.
ICT exports to the United States increased by 8.8% to US$1.8 billion, registering strong demand for semiconductor and computers. Exports to the EU grew 6.5% to US$1 billion, showing growth in the sales of chips, mobile phones, computers and peripherals.
Overall, shipments for semiconductors, displays, computers and peripherals expanded, while those of mobile phones contracted.
Exports for semiconductors went up 10.1% to US$8.8 billion. Both memory chips and semiconductors saw growth, rising 9% to US$5.4 billion, and 15% to US$2.8 billion, respectively.
Sales for display panels increased by 10.6% to US$2.1 billion. Due to the launch of new smartphones, demand for organic light-emitting diode (OLED) panels went up, but sales for liquid-crystal display (LCD) panels fell slightly.