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KITA: Fall in S. Korea's Chip Exports Due to Declining China-Bound Shipments

Written: 2022-11-28 11:16:13Updated: 2022-11-28 14:52:51

KITA: Fall in S. Korea's Chip Exports Due to Declining China-Bound Shipments

Photo : YONHAP News

New data finds that a decline in shipments to China is largely responsible for the overall fall in South Korea’s semiconductor exports.

According to statistics released by the Korea International Trade Association(KITA) on Monday, the country’s export of computer memory chips to China between January and September amounted to some 42 billion dollars to account for 40-point-six percent of total exports.

The portion of exports to China is up one-point-three percentage points from the same period last year.

Meanwhile, the association found that such exports to the U.S. accounted for six-and-a-half percent of South Korea’s total exports, down point-six percentage points while such exports to Japan took up only one percent, down point-one percentage point from last year.

Experts have stressed the need to diversify items and destinations in terms of exporting semiconductors as part of efforts to become less dependent on the Chinese market.

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