This undated picture reveals Samsung Electronics’ manufacturing line within the metropolis of Pyeongtaek, Gyeonggi Province. Courtesy of Samsung Electronics
Shipments in Korea’s electronics and telecommunications sectors reached a file excessive in 2024, largely fueled by sturdy demand in synthetic intelligence (AI), knowledge confirmed Wednesday.
Mixed shipments from producers and mining firms with greater than 10 workers reached a tentative whole of two,090.2 trillion gained ($1.41 trillion) final yr, up 97.7 trillion gained, or 4.9 p.c, from a yr earlier, in line with knowledge from the Ministry of Information and Statistics.
Notably, shipments from home electronics and telecommunications firms totaled 340.5 trillion gained, marking a rise of 71.2 trillion gained, or 26.4 p.c, from the earlier yr.
This was the very best cargo determine on this sector since 2008, when statistics started being compiled beneath the present methodology.
The worth added within the electronics and telecommunications sector rose to 169.4 trillion gained, up 55.2 trillion gained, or 48.4 p.c, from 2023, making it the third highest on file, following 2022 and 2021.
The ministry attributed the expansion to a surge in AI demand, which drove a pointy enhance in reminiscence semiconductor exports.
Shipments within the car sector elevated by 1.8 p.c from the earlier yr, supported by sturdy demand for electrical autos and luxurious vehicles.
The meals trade additionally noticed progress, with shipments rising 2.5 p.c on-year to 124.5 trillion gained, pushed by elevated demand for comfort meals and exports of Okay-food merchandise, corresponding to instantaneous noodles.
As of the top of 2024, South Korea had 73,890 mining and manufacturing firms, up 0.7 p.c from a yr earlier.
Employment in these industries totaled 3.04 million, a rise of 62,000 in contrast with 2023.
