According to Yonhap News Agency, the Korea International Trade Association released a statistical report on Monday (November 28) showing that from January to September this year, South Korea’s semiconductor exports to China totaled US$42.013 billion (S$57.8 billion), accounting for 41% of South Korea’s total semiconductor exports. %, the export share increased by 1.3 percentage points year-on-year.
South Korean experts believe that the year-on-year decline in South Korea's semiconductor exports to China in the first nine months of this year is the main reason for the decline in the growth rate of South Korea's overall semiconductor exports.
The proportion of South Korea's semiconductor exports to the United States fell by 0.6 percentage points to 6.5%, reaching US$6.71 billion, and exports to Japan also fell by 0.1 percentage points to 1%, reaching US$1.069 billion.
Although South Korea's semiconductor exports to Singapore (4.3%), Taiwan (9.4%), and the European Union (3%) have increased, the increase is less than two percentage points.
The report quoted experts who believe that the high dependence of semiconductor items on China's exports is the main reason for the overall decline in South Korea's semiconductor exports this year. Since the beginning of this year, the monthly export growth rate of Korean semiconductors has continued to decline, and has turned negative since August. The cumulative export value in the first nine months decreased by 19.1% year-on-year. During the same period, semiconductor exports to China decreased by 16.3%. Exports to Hong Kong also dropped sharply by 41.2%, to only US$15.635 billion.
