S. Korea's chip exports expected to hit record high for 2nd straight year in 2025

Seoul, Oct 22 (IANS) South Korea's chip exports will likely reach an all-time high for the second consecutive year in 2025 amid growing demand for advanced semiconductors sparked by the expansion of the global artificial intelligence (AI) market, the first vice industry minister said on Wednesday.

"Semiconductor exports this year are expected to exceed $165 billion, marking a record high for the second consecutive year," Moon Shin-hak said during the 18th semiconductor day ceremony, reports Yonhap news agency.

Korea exported $119.7 billion worth of semiconductors from January to September, up 16.9 per cent from a year earlier, according to government data.

Last year, outbound shipments of semiconductors came to $141.9 billion.

Moon said the government will work to help Korea's semiconductor industry maintain its dominance in the memory chip market and narrow the gap with global leaders in other areas, such as system semiconductors and fabless technologies.

Song Jai-hyuk, chair of the Korea Semiconductor Industry Association, said semiconductors are a "national strategic asset," which play a crucial role in AI and quantum computing, calling for "proactive support" for the industry and efforts to create an "innovative" industrial ecosystem.

Meanwhile, South Korean stocks turned higher late Wednesday morning, led by gains in autos and shipbuilders, to head toward setting another record high after five days of record-setting gains.

After opening lower, the benchmark Korea Composite Stock Price Index had gained 11.6 points, or 0.3 per cent, to 3,835.44. Large-cap shares traded mixed.

Chip giant Samsung Electronics declined 0.51 per cent, and rival SK hynix lost 0.84 per cent.

In contrast, defense giant Hanwha Aerospace increased 4 per cent, and leading battery maker LG Energy Solution went up 2.86 per cent.

The local currency was trading at 1,430.05 won against the greenback as of 11:20 a.m., down 2.25 won from the previous session's close.

--IANS

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