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Exports of Korea’s ICT goods grow 29.1% to $19.3 billion in June 2021-07-14

The Ministry of Trade, Industry and Energy announced on July 14 that exports of Korea’s information and communications technology (ICT) goods increased 29.1 percent to USD 19.3 billion in June, posting growth for 13 consecutive months and hitting the record high export value for the month of June in history.

Imports went up 17.7 percent to $10.6 billion, and the trade balance stood at a surplus of $8.7 billion.

Exports of chips, displays, and computers and peripherals recorded growth, but those of mobile phones went down.

The value of semiconductor exports jumped 34.3 percent to $11.2 billion, surpassing the $10.0 billion mark for two months in a row. Memory chips went up 30.7 percent to $7.5 billion, and system chips expanded 46.5 percent to $3.1 billion, recording the highest monthly export value in history.

Outbound shipments of displays advanced 29.7 percent to $1.9 billion. Due to increased demand in mobile devices, organic light-emitting diodes (OLEDs) and parts showed increases, up 61.2 percent to $1.1 billion and 11.2 percent to $360 million, respectively.

Those of computers and peripherals gained 18.1 percent to $1.5 billion as both computers (up 9.4 percent to $190 million) and peripheral devices (up 19.5 percent to $1.3 billion) moved up.

Meanwhile, mobile phones edged down 1.8 percent to $868 million. Finished products went up 5.5 percent to $390 million, but parts contracted 7.0 percent to $480 million.

ICT exports to all major destinations went up.

Shipments to China climbed up 28.0 percent to $9.3 billion thanks to increases in semiconductors, displays, and mobile phones.

Those to Vietnam experienced a 25.3 percent rise to 2.7 billion on the back of increased demand for chips and displays.

Exports to the United States (U.S.) recorded $2.6 billion, up 31.6 percent from the same period last year. The growth was attributable to stronger sales of chips and secondary batteries.

The value of ICT goods shipped to the European Union (EU) jumped 50.7 percent to $1.1 billion because of mobile phones and secondary batteries.

Those to Japan advanced 19.6 percent to $387 million due to increases in semiconductors and computers and peripherals.

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