S. Korea IT exports hit $14B in April

S. Korea IT exports hit $14B in April

Summary: Robust demand from emerging markets for mobile handsets and memory chips help the country's IT exports to grow 17.5 percent from the year before.

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South Korea's IT sector is enjoying an export boom as it rose for the eighth straight month in April to register a 17.5 percent increase from the same time last year.

Citing figures from the country's Ministry of Trade, Industry and Energy (MOTIE), Xinhua reported Thursday that IT exports hit US$14.13 billion last month. In fact, for the first four months of 2013, IT exports grew 11.4 percent to reach US$52.83 billion--the highest in South Korea's history, it added.

MOTIE attributed the brisk exports to strong demand from emerging economies, the report added. Exports to China, for example, spiked 17.1 percent in April from last year, and the growth was even bigger for Southest Asian markets at 39.9 percent.

Chief among the exports were handsets and memory chips, and these boosted April figures, the ministry added. Shipments of mobile phones, including smartphones, hit 50.4 percent while memory chip exports jumped 34.6 percent, it noted.

 

Topics: Tech Industry, Hardware, Mobility

Kevin Kwang

About Kevin Kwang

A Singapore-based freelance IT writer, Kevin made the move from custom publishing focusing on travel and lifestyle to the ever-changing, jargon-filled world of IT and biz tech reporting, and considered this somewhat a leap of faith. Since then, he has covered a myriad of beats including security, mobile communications, and cloud computing.

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