Seoul, March 16 (IANS) South Korea’s exports of information and communication technology (ICT) products reached the second-largest value for any February last month despite the fall in chip sales, government data showed on Sunday.
Outbound shipments of ICT products came to US$16.71 billion last month, up 1.2 percent from a year earlier, according to the data from the Ministry of Science and ICT.
The country’s ICT imports climbed 5.6 percent on-year to stand at $10.9 billion, resulting in a trade surplus of $5.81 billion, reports Yonhap news agency.
By product, exports of semiconductors and display panels fell 3 percent and 5.1 percent, respectively.
But global sales of South Korean mobile phones surged 33.3 percent on-year. Exports of computers and communications equipment also spiked 26.9 percent and 74.1 percent, respectively.
By nation, shipments to the United States jumped 11.5 percent from a year earlier, and those to Vietnam went up 15.6 percent. Exports to Thailand and India soared 124.3 percent and 54.9 percent, respectively.
But exports to China sank 19.6 percent due mainly to a marked decrease in semiconductor exports amid the U.S.’ restriction on high bandwidth memory chip exports to China.
Shipments to the European Union went down 7.6 percent and those to Japan lost 5.7 percent on-year in February, the data showed.
Meanwhile, the science ministry here said recently it will begin a five-year joint project with the Association of Southeast Asian Nations (ASEAN) worth $30 million this year to foster digital innovation in the ASEAN region.
The Ministry of Science and ICT said it will discuss the details of the project at the two-day ASEAN Digital Ministers Meeting.
The project is aimed at applying South Korea’s advanced digital technologies in ASEAN nations to facilitate their digital transformation and foster economic growth.
—IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
