Korea's Ministry of Finance recently announced that semiconductors and display product exports exceeded US$12 billion dollars in revenue within 2 months. They believe reaching a total sum of US$120 billion dollars by the end of this year is a reasonable possibility. The Ministry of Knowledge Economy stated that there was a 0.7% increase of revenues in October of this year compared to last year's. They predict that export revenues will continually increase due to the fact that Thanksgiving and Christmas are normally the high-demand season for these products.
Display panel exports increased by 10.4% in this year's winter season compared to last year's winter season bringing in approximately US$2.6 billion dollars of revenue. These product revenues have been increasing for 5 continuous months. To compete with Korea's export companies, Taiwan and Japan's export businesses increased the number of employees and decreased their product's prices, but the high-demand season at the end of the year is continuing to become a positive force in Korea's IT export industry.
Semiconductor exports increased by 36.7% this winter compared to last year's brought in revenues of approximately US$3.4 billion dollars in two months. DRAM products for cell phones and servers and diversified DDR3 products are especially popular. Revenues for these prodcuts during this year compared to last year show an increase of 69.1% and are worth US$1.1 billion dollars.
On the other side of the industry, import revenues are gradually dropping. Imports of electronic products are at US$3.4 billion dollars this winter, which is a decrease of 10.9%, or US$5.6 billion, compared to last winter.