Production rose 65.3% from last year, the biggest increase since late 2009.
South Korea’s semiconductor output rose the most in 14 years in February 2024, highlighting the continued recovery of the critical industrial sector and global demand for the technology. Bloomberg writes about it.
Production rose 65.3% from a year earlier, the biggest increase since late 2009. Semiconductor shipments also rose 59%, although this was weaker than January’s 62.7%. Inventories fell 16.2%, falling for the second month in a row, another sign of strong demand.
Semiconductor manufacturing growth reportedly continued through March, as evidenced by chip exports rising 46.5% year-over-year in the first 20 days.
It is noted that the growing demand for memory related to artificial intelligence is one of the biggest drivers. The country’s second-largest chipmaker, SK Hynix, expects the positive trend to continue, particularly with supplies to Nvidia Corp.
Total industrial production rose 4.8%, more than the 4% forecast by economists. The Treasury Department said the economy’s renewed momentum is becoming more apparent.
Recall that the United States is also working to prevent American chip manufacturers from selling semiconductors to China in circumvention of government restrictions.
It was also reported that Russia, despite sanctions imposed by Western countries, imported advanced American and European chips worth more than a billion dollars last year.
Source: korrespondent
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