SEOUL: Exports of semiconductors produced by Korean firms reached a record high last year on soaring prices and firm demand, customs data showed on Friday.
The outbound shipment of chips reached $99.71 billion last year, sharply up 60.2 percent from the $62.23 billion tallied a year earlier, according to the data compiled by the Korea Customs Service. The 2017 tally marks the highest-ever for any single item, the data showed.
Last year’s sharp growth in exports was led by high-end and high-capacity memory chips.
Exports of chips to China jumped 62.4 percent on-year to reach $39.35 billion last year, making the country the No.1 buyer of Korean chips.
Vietnam also bought $9.26 billion worth of chips produced by Korean firms, more than doubling the amount from a year earlier, the data showed.
The customs office expects exports of chips to continue rising on the back of firm demand this year.
