Korean memory chips plummeted

According to Yonhap News Agency, the data released by South Korea's Ministry of Science, Technology and Information Communication (MOSTIC) on the 14th shows that the export value of ICT products has dropped for 11 consecutive months, and the export value in May this year plunged 28.5% compared to the same period last year.

According to the Ministry of Science, Technology and Information Technology, South Korea's ICT product exports in May were $14.45 billion, down 28.5% from a year earlier. It is worth noting that ICT exports declined in May for almost all product categories.

In addition, in terms of imports, South Korea's ICT product imports fell 11.2% year-on-year to $11.2 billion in May this year. Yonhap News Agency analyzed that this is due to the slow recovery in demand resulting in a decrease in imports of key components such as semiconductors.