S.Korea expects chip export to grow in double digits in 2021
Source: Xinhua | 2021-01-06
South Korea's semiconductor export was expected to grow in double digits this year amid a continued contactless trend caused by the COVID-19 pandemic, the trade ministry said Tuesday.
Outlook for chip export in 2021 was set between 107.5 billion U.S. dollars and 111 billion dollars, according to the Ministry of Trade, Industry and Energy and the Korea Semiconductor Industry Association.
It was about 10 percent higher than chip export of 99.2 billion dollars in 2020, which was up 5.6 percent from the previous year.
The highest-ever chip shipment was 126.7 billion dollars tallied in 2018. For the last four months of 2020, the chip export advanced in double figures on a yearly basis.
The ministry said the global chip market would grow this year amid an expanded untact economy due to the continued COVID-19 pandemic.
Outlook for the country's memory chip export in 2021 was set between 70.3 billion dollars and 72.9 billion dollars, while the system chip shipment was projected to be between 31.8 billion dollars and 33.0 billion dollars.
Citing forecasts from three major market watchers, including Gartner and the World Semiconductor Trade Statistics, the trade ministry said the global chip market was predicted to grow between 8 percent and 10 percent this year.
The country's facility investment in the chip industry was estimated at 18.9 billion dollars in 2021, up 20.4 percent from the previous year.
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