Saturday, September 4, 2021

Korea's exports surge 34.9 percent in August

 


As reported by The Korea Joongang Daily and other local media, Korea's exports grew by about 35 percent in August, with semiconductor chips leading the way.  As noted in the article, "August’s exports were led by semiconductor exports, up 43 percent year-on-year to $11.7 billion as demand for computer chips remained strong.  Exports of semiconductors in August hit a record. Semiconductor exports increased for 14 consecutive months, and the rate of increase has been double digit for five months."  Other ICT sector exports or products heavily influenced by digitalization played a role in this pattern.  "Wireless telecommunication equipment exports were up 62.2 percent year-on-year to $1.4 billion helped along by the rollout of new phones.  Exports from new industries, including those involved in the making of electric vehicles (EV) and biopharmaceuticals, were strong. EV exports surged 130.8 percent, while biopharmaceutical exports grew 17.1 percent."  Clearly digital technologies and industries that depend on them are the primary engine of this nation's export led economy. 

Monday, August 2, 2021

Korea's exports surge during COVID, led by semiconductors


 As reported widely in the Korean press, Korea's exports surged during the COVID pandemic to date, with the main export being semiconductors.  As reported by The Korea Times, in July the nation's exports reached their highest level since 1956.  The pattern during the COVID outbreak is shown in the accompanying figure (click for a full-size version).   Automobile exports also contributed to this export success, as noted in The Korea Times article. " Overseas chip sales rose 39.6 percent to $11 billion on growing demand from data centers. Automobile exports also rose 26.4 percent year-on-year in July to $4.1 billion, backed by easing automotive chip shortages, as well as higher sales of high-end models, including in sport utility vehicles and electric cars."

Sunday, July 11, 2021

Mobile ID cards in Korea by 2025


 As reported by Yonhap and other local news media, the Korean government plans to introduce mobile ID cards by 2025.  As reported, "The planned introduction of mobile ID cards and other measures are included in the government's second five-year basic plan for the electronic government released by the Ministry of the Interior and Safety. The ministry presented "A good world opened by digital" as the vision of the basic e-government plan. The plan calls for raising the digital conversion rate of major public services to 80 percent and the cloud computing conversion rate of the administrative and public sector to 100 percent by 2025. Specifically, the use of electronic certificates, mobile identify verification and simple authentication will be expanded, the ministry said. In particular, the mobile driver's license, which will be introduced late this year, is expected to enable convenient identification both online and offline, it said."

Thursday, June 24, 2021

Korea leads world in reliable 5G download speeds


 A recent analysis by OpenSignal showed that Korea leads the world in the download speeds that can be reliably expected by 5G users. (click on the graphic for a full size version)  Reliable speed is the average speed that 90% of all users exceed.

The second graphic, below, shows the reliable download speeds for all 20 countries included in the Opensignal report.  Korea's 5G speeds are followed, in order, by those in Taiwan, Finland, and Australia.



Friday, June 18, 2021

Kakao now Korea's third most valuable firm

 


As reported by Yonhap, Kakao recently surpassed Naver to become Korea's third most valuable firm.(Click on the graphic showing Kakao's headquarters in Jeju for a full size version) As reported by Yonhap, "Kakao Corp. has an insatiable appetite for platform businesses, spanning messenger, e-commerce, mobility, content and finance, and now it has earned another title: South Korea's third-most valuable company."  As of June 15, "Kakao's shares rose 1.4 percent to close at a record high of 144,500 won (US$129) on Tuesday, extending its winning streak to a seventh day. Its market capitalization stood at 64.1 trillion won, taking the No. 3 spot following two chip giants -- Samsung Electronics Co. and SK hynix Inc."  Furthermore, "While the nation's top two platform operators were once content to stay in their own competitive fields -- Naver in portal and Kakao in messenger -- they are now competing on multiple fronts, including e-commerce, mobile payment, content and finance."