(Yicai Global) March 23 -- Driven by firm demand and rising prices, South Korea’s semiconductor exports hit a new high last year, with exports to China surging 62 percent.
The total value of South Korean semiconductor exports last year reached almost USD100 billion, up 60.2 percent, marking a record high, according to data released by the Korea Customs Service today. This is the first time that the export value of a single item has reached over USD90 billion, South Korea’s Yonhap News Agency reported.
China including Hong Kong Special Administrative Region and Taiwan, the U.S. and Vietnam are the largest markets for South Korea's semiconductor exports. Among them, its chips exports to China jumped 62.4 percent, reaching USD39.3 billion. China has been the largest market for South Korean semiconductor exports since 2005.
Last year, South Korea’s integrated circuit semiconductor exports surged by 66 percent compared with the previous year, driving the development of semiconductors industry as a whole. Among them, storage chip exports increased 90.7 percent annually to USD67.2 billion, and system chip exports soared 25.1 percent to USD21.4 billion year-on-year.