Semiconductors Lift South Korean ICT Exports to All Time High in 2022

South Korea shipments of information and communications technology (ICT) products in 2022 reached an all-time high of USD 233.3 billion, up 2.5 percent from 2021.  ICT exports achieved a trade surplus of $80.9 billion and make up 34.1% of Korea’s total annual exports. Imports went up 12.9% to $152.5 billion. ICT exports to most major regions expanded, however shipments to South Korea’s largest trading partner, China (including Hong Kong) shrank 4.9% to $102.3 billion as zero-COVID lockdowns and halted production lines … Continue reading “Semiconductors Lift South Korean ICT Exports to All Time High in 2022”

South Korean Trade Deficit Biggest Ever Since 1956 with Crumbling Won and High Energy Prices

South Korea for the full year of 2022, the trade balance posted a deficit of USD 47.2 billion, more than double of the previous record deficit of USD 20.72 registered in 1996, and the biggest ever figure since 1956. The trade deficit in South Korea surged to USD 4.69 billion in December 2022 from USD 0.43 billion in the same month a year earlier a preliminary figure showed. However, it was smaller than the market consensus of a 6.74 billion … Continue reading “South Korean Trade Deficit Biggest Ever Since 1956 with Crumbling Won and High Energy Prices”

South Korea’s Kospi the Weakest Stock Market in Asia This Year, Closing Down 24.9%

South Korea’s blue chip Kospi stock market lost almost a quarter of its value in 2022, ending down -24.9%, it was the weakest major Asian stock market this year with its worst performance since 2008. The Kospi was closed for a holiday on the last trading day of the year and closed down -3.3% for the week. Weakness in semiconductor stocks and internet giants particularly hurt the Index with Samsung Electronics being a major component and down 26% decline. Kakao was down … Continue reading “South Korea’s Kospi the Weakest Stock Market in Asia This Year, Closing Down 24.9%”