South Korea's ICT Exports, Including Semiconductors, Decline by 32.2% in March - Ninth Consecutive Month of Decline

South Korea's ICT exports decreased by 30% in March, marking the ninth consecutive month of decline and the largest decrease since 2009. The decline was attributed to weak demand for semiconductors, which led to a significant drop in ICT exports, including a 32.2% decrease to $15.78 billion compared to the same period last year.

Semiconductor exports, which account for the highest proportion, decreased by 33.9% to $8.73 billion, with memory exports plummeting by 44.3% and system semiconductors, including wafer foundries, declining by 18.4%. Other major ICT products, including panels, mobile phones, computers/peripherals, and communication equipment, also experienced poor demand.

By country/region, South Korea's ICT exports to China (including Hong Kong) fell by 40.1%, to Vietnam by 20.0%, to the United States by 33.3%, to the European Union by 30.2%, and to Japan by 10.7% in March compared to the same period last year.

According to reports, the prices of DRAM, a type of memory used in smartphones and PCs, continued to fall in April due to weak demand for products such as PCs, as well as a decrease in client procurement. The wholesale price of DDR4 8Gb, a benchmark product, was about $1.50 per unit in March, a 6% decrease from February, while the price of 4Gb products was about $1.20 per unit, down 8% from the previous month. Both 8Gb and 4Gb products have been declining for 11 consecutive months, and compared to the same period last year, both have decreased by 52%.

While memory giants like Samsung are reducing production, the current supply remains excessive. According to Omdia analyst Nanchuan Ming, "DRAM prices are expected to bottom out, but it may not happen until the end of Q3 (September)."