South Korea's chip output plummets 41.8% year-on-year in February

Mar. 31, 2023 /SemiMedia/ -- According to Bloomberg News, South Korean chipmakers' chip output in February fell 41.8% from a year earlier, the largest decline since the 2008 financial crisis.

The report pointed out that South Korea's chip production fell by 33.9% year-on-year in January, and production in February fell by a new 41.8%. Inventories rose 33.5% in February, while shipments fell 41.6%.

Chips are an important part of South Korea's export trade, accounting for about 12% of total exports in February.

South Korean policymakers hope for a rebound in the second half of the year and continue to focus on semiconductor investment as the economy's main growth engine. The South Korean parliament has recently approved a tax break for semiconductor companies to stimulate investment to boost the semiconductor industry.