According to foreign media reports, under the background of the decline in demand for consumer electronics products, resulting in a decline in the price and demand of memory chips, the Korean semiconductor industry, which accounts for a considerable proportion of memory chips, has also been greatly affected. exports have been significantly reduced.
Judging from the latest reports from foreign media, the decline in South Korea’s semiconductor exports is still continuing. In the past February, exports were less than 60% of the same period last year.
According to the latest data released by the Ministry of Trade, Industry and Energy of South Korea, the export value of semiconductor products in February was US$5.96 billion, far less than the US$10.37 billion in the same period last year, a year-on-year decline of 42.5%.
In addition to semiconductor products, South Korea’s panel exports in February also fell significantly year-on-year, falling to US$1.12 billion, a year-on-year decrease of 40.9%.
Semiconductors and panels are South Korea’s important export products, especially semiconductors, which account for about 20% of South Korea’s exports for a long time. The sharp decline in exports year-on-year will inevitably affect South Korea’s overall exports.
Data from the Ministry of Trade, Industry and Energy of South Korea also showed that South Korea’s exports fell to US$50.1 billion in February, the first five consecutive months of year-on-year decline since 2020, due to factors such as declining demand for chips.
