Sunday, February 17, 2008

[ News, Economy / Industry, January 3 2008] Korea's digital-electronics trade surplus hits new high in 2007

Korea’s trade surplus in the digital electronics sector reached a record $57.1 billion in 2007, fueled by strong global demand for display panels and semiconductors, a government report said Thursday (Jan. 3).

The report by the Ministry of Commerce, Industry and Energy showed exports rose 8.9 percent year-on-year to $124.9 billion, while imports gained 10.1 percent to $67.8 billion.

"Last year not only marked a record high in terms of the trade surplus, but it was the third straight year since 2005 that exports surpassed the $100 billion mark," said Kim Sung-jin, head of the ministry’s digital industry team.

He said exports of liquid crystal display (LCD) panels and computer memory chips shot up 36.4 percent and 30.9 percent, respectively, last year compared to 2006.

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