April 20, 2024

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[THE INVESTOR] Korean exports of information and communications technology products posted double-digit growth for the 19th month in a row in June on the back of brisk overseas sales of semiconductors, government data showed on July 18.

A total of US$19.13 billion worth of ICT products were shipped overseas last month, up 20.4 percent from a year earlier, according to the Ministry of Science and ICT.

The latest overseas shipments also marked the second-highest monthly total, the ministry said.

The ministry said strong demand for Korean memory chips pushed up growth and offset sluggish exports of display panels.

Exports of semiconductors made by Asia’s fourth-largest economy soared 37.5 percent on-year to US$11.25 billion last month to hit a record high.

Overseas shipments of computers and related equipment skyrocketed 47.2 percent on-year last month on the back of steady demand for solid-state drives, government data showed.

The ministry said exports of displays, meanwhile, fell 8.5 percent on-year in the one-month period due to increased global competition for LCD panels despite increased demand for OLED panels.

Combined overseas sales of mobile handsets and parts, meanwhile, were up 3.5 percent to US$1.29 billion last month from a year earlier on the back of the launch of new smartphones, the latest numbers showed.

By region, shipments to China soared 30.8 percent on-year to a record-high US$10.8 billion in June, the data showed.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)