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7.2 percent drop in S. Korean ICT exports

A report released by the South Korean government said that the information and communications technology (ICT) goods exports in South Korea dropped in the earlier month due to the week semiconductors, display panels and mobile phones demand.

The Ministry of Trade, Industry and Energy said that the exports of ICT decreased 7.2 percent compared to the previous year to set at USD13.4 billion in January.

ICT industry imports dropped 6.2 percent to reach a total of USD8.82 billion, resulting in a USD4.58 billion trade surplus.

Exports of chips dropped 3.3 percent to set at a total of USD7.29 billion in the month, it also marked the end of the double digit decline in 12 months.