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S. Korea's ICT exports up for 6th straight month in Nov. on chips, displays

Information communication and telecommunication (ICT) products (Yonhap)
Information communication and telecommunication (ICT) products (Yonhap)
South Korea's exports of information and telecommunication products surged 15.8 percent in November from a year earlier, extending their rise for the sixth consecutive month, data showed Tuesday, on the back of robust overseas demand for memory chips and display products amid the pandemic.

Outbound shipments of information communication and telecommunication (ICT) products came to $16.56 billion in November, compared with $14.3 billion posted in the previous year, according to the data compiled by the Ministry of Science and ICT.

Imports of such goods also increased 14.2 percent over the cited period to reach $10.38 billion, resulting in a trade surplus of $6.18 billion.

By segment, exports of chips jumped 16.1 percent to reach $8.67 billion, with those of memory chips rising 7.3 percent to account for $5.19 billion.

Exports of displays also advanced 27.7 percent on-year in November to reach $2.18 billion amid growing demand from the mobile industry.

Overseas sales of smartphones gained 24.9 percent to hit $2.18 billion on the back of the year-end shopping season, led by strong demand from the United States. 

By destination, exports to China, the country's top trading partner, rose 8.1 percent to $7.72 billion, led mostly by chips and mobile devices.

Those to Vietnam added 35.2 percent to $2.83 billion on robust demand for displays as well.

Shipments to the US jumped 19.4 percent to hit $1.87 billion, marking the 11th consecutive month of on-year growth.

Exports to Japan, on the other hand, shed 13.8 percent to $330 million. (Yonhap)