South Korea, which has two main memory chip makers, Samsung Electronics and SK Hynix, is an important semiconductor producer around the globe, and semiconductors are also an important export commodity of South Korea.
According to the Korean Ministry of Science, Information and Communication Technology, exports of South Korean semiconductor products hit US$10.9 billion in April, surpassing US$10 billion for the 12th consecutive month.
Samsung Display and LG Display have also produced significant results
Panels, in addition to semiconductors, are a major export for South Korea, with shipments totalling $2.05 billion in April. Samsung Display and LG Display, two prominent panel manufacturers in South Korea, have evident advantages in OLED panels. They primarily supply the OLED panels required by Apple’s iPhone.
The export of South Korean ICT products surged considerably year on year in April, owing to robust semiconductor and panel exports. According to the figures, it reached US$19.94 billion, up 16.9% from US$17.05 billion in the same period last year.
The value of South Korea’s ICT product exports in April this year was the largest since relevant statistics were released in 1996, at US$19.94 billion. South Korea’s ICT product exports achieved a record high of US$81.66 billion in the first four months of this year, thanks to strong demand for chips and panels in abroad markets.