S. Korea's IT exports expected to fall 10 pct this year

SEOUL, Feb. 13 (Yonhap) -- South Korean exports of information technology (IT) products are likely to drop 10 percent on-year in 2009 due to slowing demand and lower prices, a government official said Friday.

"Companies raised concerns that outbound shipments of electronics products will
likely fall in the double-digit range," said Kang Myung-soo, the Ministry of
Knowledge Economy's export-import division head, after a meeting with executives
of Samsung Electronics Co. and other IT companies.
Overseas shipments of memory chips, display panels, mobile phones, digital TV
sets and other IT products reached US$131.3 billion in 2008, a mere 0.9 percent
increase from the previous year.
According to the official, companies expect prices for LCD TVs to plunge 20
percent annually this year amid the global economic downturn.
However, steady demand will likely help mobile phone exports grow 7 percent
compared with 2008.
Executives, meanwhile, called on the government to ease administrative red tape,
allocate more funds to assist corporate research and take other measures to boost
IT exports.
yonngong@yna.co.kr
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