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South Korea's chip exports diverge: memory surged 58% in December 2023, system chips slumped 14%

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Update time : 2024-01-25 09:40:36
        South Korea's Ministry of Industry, Trade and Resources (MITR) released data on January 16 showing that the recovery of South Korea's semiconductor exports in December 2023 showed an uneven trend, with the Ministry of Trade releasing data showing a 58% surge in memory exports over the same period in 2022, the biggest rise since May 2018, while system chip exports including logic and analog semiconductors declined by 14%.
        South Korea's ICT exports amounted to $18.26 billion in December 2023, up 8.1% from the previous year, the Ministry of Industry, Trade and Resources revealed. By category, exports of semiconductors and displays increased, while exports of cell phones, computers, peripherals, and communication equipment decreased.
        ICT main export items semiconductor exports amounted to 11.07 billion U.S. dollars, an increase of 19.3%. Among them, memory semiconductor exports increased 57.5% year-on-year to $6.99 billion, leading overall semiconductor exports. On the other hand, system semiconductor exports declined 14.0% from the same period in 2022 to $3.67 billion due to the decline in foundry starts and the continuing downtrend. 
        Korea Customs Service (Korea Customs Service) data released on January 11, 2024, January 1 to 10, South Korea's exports totaled $ 15.44 billion, compared with the same period in 2023, $ 13.89 billion, an increase of 11.2%. Among them, semiconductor chip exports jumped 25.6% to $2.57 billion. Semiconductor exports accounted for 16.7% of overall exports, up from 14.8% in the same period in 2023. 
        Although memory chips are one of South Korea's biggest sources of revenue, with Korean companies supplying more than 60 percent of the world's memory chips, system semiconductors account for a much larger share of the global semiconductor market. 
        South Korea's Ministry of Industry, Trade and Resources (MITR) said in a statement that South Korea's December 2023 decline in system chip exports was related to a decline in capacity utilization at South Korean fabs. 
        Previously in May 2023, the South Korean think tank warning that the face of the semiconductor boom reversal, South Korea must strengthen the chip product diversification, to avoid over-reliance on a single product, in order to reduce the memory chip down cycle on the impact of the South Korean economy.
 
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