According to the latest data from the Korea Customs, South Korea’s exports of technology products in September were not optimistic, semiconductor exports plummeted 40% year-on-year, and exports of mobile communication equipment (which accounted for a small share of total exports) jumped 58%. In addition, South Korean exports fell by 22% year-on-year, the largest decline since 2009. Among them, South Korea’s exports to its largest trading partner, China, plummeted by 30%, exports to the United States fell by 21%, exports to Japan fell by 14%, and exports to the EU fell by 13%.
According to professionals, the decline in exports may continue for the rest of the year, which will put pressure on South Korea's economic growth and the won.
The main problem behind the weakness of semiconductor sales is the poor sales of memory chips. To improve this situation, it is mainly hoped that the demand for memory in China, the United States and other markets will increase.
Industry insiders said that the continuation of the trade war between Japan and South Korea has led to a growing contradiction between South Korea and Japan in terms of export restrictions, which has caused damage to both sides and key semiconductor supply chains in Asia.