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Korea's chip exports forecast to continue strong growth in 2018

According to Yonhap News,

(SEOUL=Yonhap News) Korea's chip exports are expected to continue to post solid growth and surpass US$10 billion in monthly shipments during the first half of this year, industry experts said Sunday.

Exports of semiconductors soared 53.8 percent on-year to $9.86 billion in January -- the second-largest ever monthly sales -- according to the Ministry of Trade, Industry and Energy.

In September last year, exports of semiconductors soared 73.3 percent on-year to an unprecedented $9.88 billion, and subsequently surpassed $9 billion for five months in a row.

Experts forecast the monthly shipments of chips will top $10 billion during the first half of this year.

"It is likely the monthly export of chips will surpass $10 billion, since the market price of major chips including DRAM continues to rise," said an industry official who asked not to be named.

Industry data showed DRAM prices surged 85.1 percent in 2017 fueled by restrictions in supply.

In 2017, $99.68 billion worth of chips were exported, the first time a single item has exceeded the $90 billion mark in exports in one year.

Samsung Electronics Co. and SK hynix Inc. have been enjoying sharp increases in their chip earnings due to the global boom in the industry.

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Source: Yonhap News (Feb. 25, 2018)
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