South Korean media reported that South Korea should diversify its overseas markets for semiconductors and reduce the risks associated with its dependence on China's export trade.

(European News Agency)

[Financial Channel/Comprehensive Report] According to a report from South Korea on Monday (28th), South Korea’s semiconductor exports are heavily dependent on China, resulting in a sharp decline in chip exports in the first nine months of this year.

The South Korean media Korea Herald reported that South Korea should diversify its semiconductor overseas markets and reduce the risks associated with trade dependence with neighboring countries.

According to data released by the Korea International Trade Association, South Korea's semiconductor exports to China from January to September were US$42 billion, an increase of 1.7 percentage points from the same period last year, accounting for 40.6% of South Korea's total chip exports.

However, due to South Korea's increased dependence on the Chinese market during this period, the cumulative export of chips fell by 16.3%.

Please read on...

During the same period, South Korea’s semiconductor exports to the United States were US$6.71 billion, a decrease of 0.6 percentage points from the same period last year, accounting for 6.5% of total wafer exports; %.

In addition, exports to Singapore accounted for 4.3%, Taiwan 9.4%, and the EU 3%, which did increase, but the growth rate was only about 1 percentage point.

Market watchers say South Korea must shift to supply of system semiconductors that are seeing increased demand in the U.S. and Europe.

KITA researcher Jang Sang-sik said that because South Korea's chip industry is mainly concentrated in memory semiconductors, sales are sensitive to economic conditions in importing countries.

If Korea can diversify its export products and cultivate a logic chip industry that is in high demand in the U.S. and Europe, it will be able to diversify its market.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news