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S. Korea's ICT exports rise for 17th straight month in April

All Headlines 11:00 May 16, 2018

SEOUL, May 16 (Yonhap) -- South Korea's exports of information and technology (ICT) products posted double-digit growth for the 17th month in a row in April, led by upbeat sales of semiconductors and computers, government data showed Wednesday.

A total of US$17.2 billion worth of ICT products was shipped overseas last month, up 10.9 percent from a year ago, according to the Ministry of Trade, Industry and Energy. The latest tally broke the previous monthly record for April.

South Korea's ICT imports also rose 10 percent to post a trade surplus of $8.56 billion last month, the ministry said.

The ministry said strong demand for South Korean memory chips and computers propelled growth to offset sluggish sales of displays and mobile phones.

Exports of semiconductors made by Korean tech giants like Samsung Electronics Co. jumped 36.6 percent on-year to $9.89 billion in April, and those of memory chips, such as multi-chip packages (MCPs) and dynamic random-access memory (DRAM), soared 47.3 percent to $6.99 billion.

Sales of displays declined 13.5 percent to $2 billion last month due to intensifying competition in liquid crystal displays (LCDs) and slowing demand in organic light-emitting diodes (OLEDs).

Combined overseas sales of mobile handsets and parts tumbled 42.4 percent to $1.05 billion over the period amid tough competition in the high-end segment and rising production in overseas factories.

By region, shipments to China, Japan and Vietnam increased 4.5 percent, 7.7 percent and 14.6 percent, respectively, in April. Those to the United States fell 2.3 percent over the period, the data showed.

This image shows the corporate logo of Samsung Elecronics and its memory chips. (Yonhap)


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