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S. Korea's ICT exports climb 18.9 pct in H1 to set new semiannual record

All News 11:00 July 14, 2022

SEOUL, July 14 (Yonhap) -- South Korea's exports of information and communication technology (ICT) products in the first half of 2022 soared 18.9 percent on-year to set a new semiannual record tally, thanks to brisk overseas demand for chips and computer products, data showed Thursday.

Outbound shipments of ICT products came to US$122.6 billion in the January-June period, up from the $103 billion tally a year earlier, according to the data compiled by the Ministry of Science and ICT.

It marked the highest-ever semiannual tally since the government began compiling related data in 1996. ICT exports accounted for 35 percent of South Korea's total outbound shipments during the first half of 2022.

ICT imports grew 19.4 percent on-year to $74.4 billion during the period, resulting in a trade surplus of $48.2 billion in the sector, the data showed.

Strong demand for chips and displays, South Korea's key export items, boosted ICT exports last month.

Exports of semiconductors advanced 20.9 percent to $69.5 billion, and those of computers and peripheral products surged 38.6 percent to $10.2 billion.

Shipments of OLED displays also rose 26.5 percent to $7.3 billion, and exports of SSD products and mobile phones increased 55.8 percent and 3.1 percent, respectively, to $5.9 billion and $6.6 billion.

By nation, the combined shipments to China, South Korea's largest trading partner, and Hong Kong rose 11.9 percent on-year to $54.5 billion.

Exports to Vietnam, the European Union and the United States also jumped 22.7 percent, 23.4 percent and 20.4 percent, respectively.

This photo taken July 11, 2022, shows shipment containers at a port in South Korea's southeastern city of Busan. (Yonhap)


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