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Korea’s ICT sector exports totaled US$233.32 billion in 2022, the largest since records began in 1996.

The Ministry of Trade, Industry and Energy announced on Jan. 12 that exports from the information and communications technology sector increased 2.5 percent to US$233.32 billion last year, the largest since records began in 1996. Last year, the sector’s imports totaled US$152.47 billion.

In 2022, semiconductor exports hit an all-time high of US$130.86 billion, up 1.7 percent year on year. Chip exports topped US$10 billion for the 17th consecutive month in December. Non-memory chip exports topped US$50 billion last year, showing a double-digit growth for three years in a row.

OLED display exports increased 4 percent to US$15.1 billion in 2022, accounting for more than 60 percent of display exports. OLED exports increased for three years in a row.

Mobile phone exports increased 4.9 percent to US$14.68 billion. Although finished product exports decreased 14.3 percent to US$4.22 billion, semifinished product exports increased 15.3 percent to US$10.46 billion.

Exports to China decreased 4.9 percent to US$102.31 billion while those to Vietnam, the United States, the European Union and Japan increased 4.3 percent, 4.4 percent, 7.5 percent and 2.7 percent, respectively. Those to Vietnam and the United States increased for the third consecutive year and reached the highest levels ever.

In December last year, exports from the sector fell 23.6 percent year on year to US$16.91 billion. Semiconductor, display, mobile phone and computer and related exports dropped 27.8 percent, 35.2 percent, 28.9 percent and 29.3 percent, respectively.



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