S. Korean IT exports fall 11 pct in June

By Lee Joon-seung
SEOUL, July 6 (Yonhap) -- South Korean exports of information technology (IT)
products fell 11.6 percent on-year in June as the global economic slump dampened
overseas sales, a government report showed Monday.

Exports of semiconductors, mobile phones and other IT products reached US$10.17
billion last month, with imports dropping 17.1 percent to $5.35 billion for a
surplus of $4.82 billion, according to the report by the Ministry of Knowledge
Economy.
While June's outbound shipments fell off compared to the year before, total
export volume has increased monthly over the past six months, the report said,
indicating that the world economy may be making a gradual recovery. Exports in
June surpassed the $10 billion mark for the first time this year.
The ministry, in charge of the country's industrial policies and trade promotion,
added that while exports have contracted vis-a-vis 2008, negative growth has
slowed in recent months.
IT exports declined 39.2 percent on-year in December but contracted 26.8 percent
in March and 17.1 percent in May.
Exports of mobile phones and semiconductors were down 7.4 percent and 23.0
percent respectively in June while overseas sales of liquid panel displays gained
4.0 percent compared to the year before.
China was the biggest importer of Korean-made IT products, buying $4.14 billion
worth, followed by the United States with $1.40 billion and the European Union
with $1.39 billion.
Outbound shipments to Japan and Latin America stood at $610 million and $600
million, respectively.
The report, meanwhile, said IT exports totaled $52.66 billion between January and
June with imports reaching $28.09 billion during the period for a surplus of
$24.58 billion.
yonngong@yna.co.kr
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