◀ Anchor ▶
The slump in the semiconductor industry has turned a red light on the performance of the entire country.
The current account recorded a deficit for two months in a row for the first time in 11 years.
This is reporter Go Jae-min.
◀ Report ▶
– 41.5%, South Korea’s semiconductor exports in February fell to half the level of a year ago.
With the observation that the deficit of Samsung Electronics’ semiconductor business will reach 4 trillion won in the first quarter of last year, SK Hynix, which will announce its results at the end of this month, is also expected to lose money for two consecutive quarters.
Due to the sluggish semiconductor industry, exports have declined for six consecutive months.
Deputy Prime Minister and Minister of Economy, Chu Kyung-ho, visited the Samsung Electronics semiconductor plant and promised full support.
[추경호/경제부총리]
“Semiconductors were said to be ‘the rice of the industry’ in the past, but I have gone far beyond rice, and it is truly an industry that is like a lifeline and water of life…”
Exports of chemical and steel products along with semiconductors were sluggish, and the goods balance in February recorded a negative $1.3 billion, a deficit for five consecutive months.
Due to the sluggish balance of goods and services, the overall current account balance was minus 520 million dollars, and our money recorded a deficit of more than 600 billion won.
Although the deficit narrowed compared to last January, it is the second consecutive month of deficit in 11 years.
However, the Bank of Korea expected that the current account balance in March would show an equilibrium level as the extent of the trade deficit narrowed slightly last month.
The government expects the current account to be in the 20 billion dollar range surplus this year thanks to an increase in foreign arrivals and an improved trade balance.
However, there is no clear sign of recovery in exports, and the fact that Koreans’ overseas travel is increasing remains a variable.
This is MBC News Ko Jae-min.
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