S. Korean IT exports plunge in Nov.

(ATTN: CORRECTS semiconductor export numbers in para 4)
By Lee Joon-seung
SEOUL, Dec. 4 (Yonhap) -- South Korean exports of information technology (IT)
products plunged 32.3 percent on-year in November due to a sharp decline in
overseas demand, a government report said Thursday.
Overseas shipments of semiconductors, mobile phones, display panels and other key
IT products decreased to US$8.64 billion last month, with imports dropping 29.7
percent to $4.64 billion for a surplus of $4 billion, according to the report by
the Ministry of Knowledge Economy.
November marks the third month this year that the nation's IT exports have fallen
on-year. Exports dipped 0.5 percent in August and dropped 8.4 percent in October.
According to the report, semiconductor exports were down 44 percent to $1.95
billion, as a global glut that began in early 2007 continued to put downward
pressure on prices.
Display panel exports also fell 18.1 percent to $1.86 billion, with outbound
mobile phone shipments nosediving 25.4 percent to $2.4 billion.
Exports to the United States, China, the European Union (EU) and Japan all declined.
IT exports to China fell 28.8 percent annually, while those for the EU and Japan
sank 37.5 percent and 38.3 percent, respectively. Shipments to the U.S. market
fell 21 percent, the first monthly decrease in eight months, the report showed.
yonngong@yna.co.kr
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