IT exports grow again in February

Korea’s exports of information technology products continued to grow in February from a year ago despite unfavorable business conditions, according to a preliminary report released yesterday by the government. The Ministry of Information and Communication said Korea shipped $8.4 billion worth of such products overseas last month, up 16.6 percent from a year earlier. The February hike was mainly driven by expanded shipments of mobile phones, display panels and digital televisions, the report showed. The ministry noted that the increase came despite a stronger local currency and an industrial glut in the global semiconductor and display markets. Over the month, imports of information technology products also grew ― by 23.1 percent from a year earlier to $4.5 billion, resulting in a trade surplus in the sector of $3.9 billion, following the previous month’s $4.4 billion, the report noted.