South Korea Estimates Chip Exports to Grow by 10% This Year

South Korea Estimates Chip

The Ministry of Trade, Industry, and Energy (MOTIE) of South Korea has recently announced that it is expecting a 10.2% YOY growth for semiconductor exports. Basically, the country’s export is most likely to exceed $100 billion in 2021 due to immense growth of 5G and remote work.

If this forecast is met, it will be the second-highest amount on record. In 2018, semiconductor exports reached $126.7 billion in 2018 – which is the highest to date. Tech giants including Samsung Electronics, SK Hynix etc. posted record profits then.

Even in 2020, semiconductor trades hit $99.2 billion regardless of the pandemic and global sanctions against Huawei. This is certainly because of the substantial demand for servers and notebooks.

Source: ZDNet

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