S. Korea’s export of chips all-time high in Q2

SEOUL-- South Korea's chip exports reached an all-time high level in the second quarter amid the industrywide boom, data showed Sunday.

According to the data compiled by the Bank of Korea, the export volume index for the chip sector, which reflects the fluctuations of shipments, came to 393.97 for the April-June period. The benchmark for the figure is 100 based on the 2010 shipment.

The latest figure marks a 20.2 percent on-year rise from 327.86 posted in the second quarter of 2016, the data showed.

Industry watchers said the rise is attributable to the expanded shipment by Samsung Electronics Co. and SK hynix Inc., coupled with the rising price of chips around the globe.

On Thursday, Samsung Electronics said its chip business posted an operating profit of 8.03 trillion won (US$7.15 billion) in the second quarter, soaring from 2.64 trillion won posted a year earlier, on the back of the rising demand for server DRAMs and SSD products. Overall sales were estimated at 17 trillion won.

It marked the first time for the chip business to post an operating profit exceeding 8 trillion won.

Experts said the chip sector is expected to lead South Korea's overall exports for the time being, as the boom of the Internet of Things and artificial intelligence industries will spark more demand.

Source: Yonhap News Agency

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