South Korea's semiconductor exports in 2022 will be US$130.8 billion, a year-on-year increase of 1.7%

According to Yonhap News Agency, South Korea's Ministry of Science, Technology, Information and Communications said on the 12th that semiconductor exports hit a record high of US$130.8 billion, a year-on-year increase of 1.7%.

Relevant South Korean authorities stated that in terms of export items, the growth rate of semiconductors has narrowed significantly compared with 2021 (28.3%). Since June last year, the export value of South Korea's storage semiconductors has declined for six consecutive months, with a year-on-year decrease of 10.5% to US$73.8 billion.

On the contrary, as the demand for digital conversion continued, the export value of system semiconductors reached an all-time high of US$50.7 billion, a year-on-year increase of 27.5%, showing double-digit growth for three consecutive years.

It is reported that in recent years, the market size of system semiconductors has reached twice that of storage semiconductors. However, the market share of system semiconductors in South Korea has been hovering around 3% in the past 10 years. According to a report released by the Export-Import Bank of Korea, the global system semiconductor market is expected to reach US$338.9 billion in 2025.