(image: Korea Bizwire)
SEOUL, Feb. 5 (Korea Bizwire) — South Korean chip exports are expected to continue to post solid growth this year, though its pace may slow down from last year’s exponential expansion, a report showed Sunday.
The Korea Institute for Industrial Economics & Trade (KIET) forecast the country’s exports will increase 18.6 percent in 2018, lower than the 60.2 percent posted last year.
In 2017, US$99.68 billion worth of chips were exported, marking the first time for a single item to surpass the $90 billion mark in exports in one year.
Samsung Electronics Co. and SK hynix Inc. have been enjoying sharp increases in their chip earnings due to the global boom in the industry.
“This year’s increase rate is expected to slow down as last year’s tally was extraordinarily high, but it will still be very high compared to other years,” the report said.
(Yonhap)
