S Korea’s ICT export hits record high in 2018

18 January, 2019 12:00 AM printer

SEOUL: South Korea's export of information and communications technology (ICT) products hit a record high last year thanks to robust demand for semiconductors, a government report showed Thursday.

The ICT export increased 11.5 percent over the year to reach a new high of 220.4 billion U.S. dollars in 2018, topping the previous high of 197.6 billion dollars tallied in 2017, according to the Ministry of Trade, Industry and Energy, reports Xinhua.

Import in the ICT sector amounted to 107.1 billion dollars, sending last year's trade surplus to 113.3 billion dollars. It was the country's biggest trade surplus in the industry.

Semiconductor export jumped 28.6 percent to 128.2 billion dollars last year on demand for memory chips used for servers and high-end smartphones.