The Korea Herald

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Korea's ICT exports rise for 12th straight month in Nov.

By Yonhap

Published : Dec. 14, 2017 - 11:25

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South Korean exports of information and communication technology products increased for the 12th month in a row in November on upbeat sales of semiconductors, government data showed Thursday.

A total of $18.62 billion worth of ICT products were shipped overseas last month, up 25.9 percent from a year earlier, according to the data compiled by the Ministry of Science and ICT.

The shipment of ICT products is the second highest tallied so far, trailing only the $19.2 billion reached in September.

(Yonhap) (Yonhap)

The ministry said overseas demand for South Korean computer chips, display panels and computers remained strong, offsetting weak exports of mobile phones. 

Exports of semiconductors made by Asia's fourth-largest economy soared 68.5 percent on-year to $9.76 billion in November, led by the rise in market prices for NAND flash memory chips.

Overseas sales of displays inched up 1 percent on-year in November, marking the 13th consecutive month of advances, on the back of organic light-emitting diode TVs and LCD parts.

Shipments of computers and computer equipment jumped 19.8 percent on-year last month thanks to demand for solid state drives.

Combined overseas sales of mobile handsets and parts, however, dropped 21.3 percent to $1.93 billion last month, as the global smartphone market is getting more competitive.

Shipments to China, including Hong Kong, surged 28.2 percent to $10.31 billion, as brisk memory chip sales exceeded sluggish handset sales. The Chinese market accounted for 56.4 percent of South Korea's total ICT exports.

Exports to the United States swung back to growth from a year earlier, rising 23.4 percent to $1.83 billion, and sales in Vietnam shot up a whopping 72.8 percent to $2.38 billion, the latest data showed. (Yonhap)