Korea’s tech exports were third-biggest in the world

Home > Business > Economy

print dictionary print

Korea’s tech exports were third-biggest in the world

Korea’s information and communications technology (ICT) exports in 2015 were the third-largest in the world, thanks to mobile phones and semiconductors, the government said.

According to the Ministry of Trade, Industry and Energy on Monday, ICT exports recorded $172.9 billion last year, down 1.9 percent compared to 2014.

Although they declined, the rate was considered minimal since global ICT exports declined by 5.8 percent year-on-year, the Trade Ministry said.

Korea was the world’s No. 3 ICT exporter for the first time trailing China and the United States.

By product, shipments of mobile phones increased 9.8 percent last year, and semiconductors rose by 0.4 percent.

Korean-made displays and televisions tumbled during the same period, by 6.8 percent and 26 percent, respectively, due to competition from cheaper Chinese TVs.

Meanwhile, Korea imported ICT products worth $91.32 billion last year, resulting in a trade surplus for ICT products of $81.56 billion.

Amid an economic slowdown in China and emerging economies, ICT exports this year are forecast to fall. But shipments of solid state drives (SSD) and organic light-emitting diodes (OLED) are expected to continue to see double-digit growth.


BY KIM JI-YOON [kim.jiyoon@joongang.co.kr]








More in Economy

Biden boomlet expected for 5 key exports

WTO rules in favor of Korea in dispute over U.S. tariffs

Public sector job growth outpaces private sector growth

Exports up 10.6 percent in first 20 days of 2021

Down with the Cptpp!

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now