As reported in the Joongang Daily, a new report by the Knowledge Economy Ministry shows that South Korea's IT trade surplus has reached record levels. In April, Korea posted a record trade surplus of $6.71 billion in the information technology (IT) product sector, led by increased demand for semiconductors and display panels. IT exports surged to $12.67 billion last month, the eleventh consecutive month the surplus has exceeded $10 billion. Exports of mobile phones fell 28.2 percent to $1.75 billion, mainly due to increased overseas production by local companies as part of cost-cutting efforts. Also, as mentioned in the last post, the popularity of the iPhone was an overall factor affecting the market for mobile handsets. (Click on the graphic to see a full size version.)
Friday, May 7, 2010
Korea's IT Trade Surplus Reaches New Record
As reported in the Joongang Daily, a new report by the Knowledge Economy Ministry shows that South Korea's IT trade surplus has reached record levels. In April, Korea posted a record trade surplus of $6.71 billion in the information technology (IT) product sector, led by increased demand for semiconductors and display panels. IT exports surged to $12.67 billion last month, the eleventh consecutive month the surplus has exceeded $10 billion. Exports of mobile phones fell 28.2 percent to $1.75 billion, mainly due to increased overseas production by local companies as part of cost-cutting efforts. Also, as mentioned in the last post, the popularity of the iPhone was an overall factor affecting the market for mobile handsets. (Click on the graphic to see a full size version.)
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