April 2, 2024 — According to reports, South Korea’s semiconductor output increased by 65.3% year-on-year in February 2024, the largest increase in 14 years since 2009. This is a signal of recovery for South Korea’s semiconductor industry and global demand.
The report pointed out that South Korea’s semiconductor shipments also increased by 59% in February. In addition, semiconductor inventories fell by 16.2% in February, which was the second consecutive month of decline and was a sign of strong demand.
The report also pointed out that judging from the 46.5% year-on-year increase in chip exports in the first 20 days of March, semiconductor output is likely to continue to grow, and the surge in market demand for artificial intelligence (AI)-related memory is one of the biggest driving forces for growth.
“Driven by strong external demand for AI memory chips, we expect output to grow steadily in March. The slow recovery of the Chinese market may affect orders for Korean semiconductors, offsetting some of the rising demand for chips,” said Hyosung Kwon, a Korean economist.
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