January 17, 2024 /SemiMedia/ -- According to a report from South Korea's Ministry of Trade, Industry and Energy, South Korea's memory chip exports surged 58% in December 2023 compared with the same period in 2022, the largest increase since May 2018, while system chip exports including logic and analog devices decreased by 14%.

The report pointed out that South Korea’s ICT (information and communications technology) exports reached US$18.26 billion in December 2023, an increase of 8.1% over the previous year. Semiconductor exports, the main export item of ICT, reached US$11.07 billion, a year-on-year increase of 19.3%. Among them, memory chip exports increased by 57.5% year-on-year to US$6.99 billion, leading overall semiconductor exports. Due to the decline in wafer foundry operating rates, system semiconductor exports fell 14.0% from the same period in 2022 to US$3.67 billion.

According to figures released by the Korea Customs Service, from January 1 to 10, 2024, chip exports increased by 25.6% to US$2.57 billion compared with the same period in 2023.