South Korea’s ICT export posts first upswing in 16 months

SEOUL (XINHUA) – South Korea’s export of the information and communications technology (ICT) product posted the first upswing in 16 months last month, a government report showed yesterday.

The ICT export gained 8.5 per cent over the year to USD13.74 billion in February, marking the first increase in 16 months since November 2018, according to the Ministry of Trade, Industry and Energy.

Import in the ICT sector grew 5.7 per cent to USD7.71 billion, sending the trade surplus to USD6.03 billion.Semiconductor export expanded 9.3 per cent on stronger demand for NAND flash memory chips and system chips, and mobile phone shipment rose 4.7 per cent in the month.

Display panel shipment diminished 14.9 per cent in the cited period on weak demand for LCD panels. Export for computer and peripherals surged 87.8 per cent thanks to robust demand for solid state drive (SSD).