According to Korea's Ministry of Information and Communication, Korea's IT exports decreased by 2.2% year-on-year to US$6.37 billion in May 2005. The main reasons for this fall off were the continuing appreciation of the won against the US dollar (14% since May 2004) and a considerable decline in exports to the United States. However, the combined IT export value in the first five months of the year totaled US$31.11 billion, in comparison with US$30.04 billion in the same period in 2004.

 

Export value of semiconductor exports increased by 5.7% year-on-year to US$2.51 billion. Flash memory value went up by 47% to US$390 million.

However, export value of DRAM (Dynamic Random Access Memory) chips fell 30% to US$640 million, because of the traditional weak season and resulting falling prices.

 

Mobile handset export value grew 1.5% to US$1.93 billion. Shipments to the European Union went up by 71%, but shipment to the United States decreased heavily by 52.3%.

 

Notebooks and desktop PCs saw total value fall by 20.5% to US$866 million.

Digital televisions export value grew 6.5% to US$143 million.

 

China was still the main destination of Korea's IT exports, accounting for US$2.04 billion, an increase of 15.2% year-on-year. The European Union came in second place with US$1.15 billion, followed by the United States with US$930 million, a decrease of 37%.