S Korea’s ICT export posts double-digit fall

SEOUL, Sept 23 (Xinhua): South Korea's export of information and communications technology (ICT) products fell in double digits last month on weak demand and lower product price, a government report showed Monday.

The ICT export declined 24.5 per cent over the year to 15.23 billion US dollars in August, according to the country's Ministry of Trade, Industry and Energy.

The import edged down 1.9 per cent to 8.82 billion US dollars last month, sending the trade surplus in the ICT sector to 6.41 billion US dollars. It almost quadrupled 1.72 billion US dollars of trade surplus in all industries in the month.

The export fall came as demand weakened for ICT products amid the global economic slump, adding to the concern about the continued slide in product price.

Semiconductor export plunged 30.5 per cent from a year earlier to 8.09 billion US dollars in August on lower memory chip price and weak demand for system chips.

Display panel shipment diminished 26.7 per cent to 2.18 billion US dollars on lower LCD panel price and soft demand for OLED panels.