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South Korea's ICT exports fell for the 12th consecutive month, but the system semiconductor recovery momentum is strong

Update time : 2023-07-24 15:02:35

According to South Korea's Ministry of Industry, Trade and Resources revealed on July 13, South Korea's information communication technology (ICT) exports in June was tentatively set at $ 16.06 billion, by the semiconductor industry downturn, South Korea's ICT exports in June decreased by 22.1% annually, which is since July 2022 the 12th consecutive month of decline.
According to Korean media Business Korea, in June, South Korea's ICT exports accounted for about 30% of total exports. While exports to major countries such as China, Vietnam and the U.S. are still shrinking, they will recover in the second half of this year, experts predicted.
In addition to semiconductor (- 27.9%) exports, which declined for the 11th consecutive month, exports of major ICT products such as displays (- 11.1%) and cell phones (- 18.8%) also declined. However, among the semiconductor exports, system semiconductor exports showed a strong recovery momentum. Following the double-digit decreases in January ~ April this year, system semiconductor exports showed single-digit decreases in May (down 4.9%) and June (down 9.6%), and again reached an annual high of $3.78 billion in June.
Meanwhile, South Korea's memory exports have been on a downward trend for 12 consecutive months. unit price of 8GB DRAM, which was $2.85 in August and September 2022, fell to $1.36 in June due to slowing demand and rising inventories. However, memory exports in June increased sharply from May, giving hope to South Korean semiconductor companies.

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