In 2024, the proportion of South Korean semiconductor exports to China will decline to 33.3%
Jan 06,2025
The latest industry data shows that South Korea's semiconductor exports to Chinese Mainland will decline in 2024, while semiconductor sales to Taiwan, China and Vietnam will increase.
According to reports, data released by the South Korean Ministry of Industry, Trade and Resources on January 5th showed that South Korea's semiconductor exports in 2024 increased by 43.9% to $141.9 billion compared to 2023.
Chinese Mainland has always been the largest market for Korean semiconductors, but the proportion of Korean semiconductors sold to this region has continued to decline in the past few years. According to the data of the Korea Trade Association (KITA), the proportion of Chinese Mainland and Hong Kong in South Korea's semiconductor exports in 2024 will be 51.7%, lower than 61.6% in 2020.
If Chinese Mainland and Chinese Mainland are separated, the semiconductor ratio of South Korea to mainland China will drop from 40.2% to 33.3%, and the semiconductor ratio to Hong Kong will drop from 20.9 to 18.4%. It is expected that more chips exported by South Korea to Hong Kong will eventually be re exported to Chinese Mainland, further highlighting the decline of direct exports to Chinese Mainland.
In contrast, in 2024, Taiwan, China accounted for 14.5% of South Korea's chip exports, far higher than 6.4% in 2020, reflecting that SK Hynix sold high bandwidth memory (HBM) to Nvidia through TSMC. South Korean industry insiders have stated that SK Hynix's HBM will first be shipped to TSMC, which will package SK Hynix's HBM chip with a graphics processing unit (GPU) to produce an artificial intelligence (AI) accelerator, which will then be handed over to Nvidia.
South Korea's semiconductor exports to the United States have been slightly adjusted, dropping from 7.5% in 2020 to 7.2% in 2024.
The share of South Korean semiconductor exports to Vietnam is also increasing, with its proportion rising from 11.6% in 2020 to 12.9% in 2024. This growth is mainly attributed to companies such as Samsung Electronics relocating their smartphone factories from China to Vietnam. Therefore, the export of related components, including semiconductors, has significantly increased.
According to reports, data released by the South Korean Ministry of Industry, Trade and Resources on January 5th showed that South Korea's semiconductor exports in 2024 increased by 43.9% to $141.9 billion compared to 2023.
Chinese Mainland has always been the largest market for Korean semiconductors, but the proportion of Korean semiconductors sold to this region has continued to decline in the past few years. According to the data of the Korea Trade Association (KITA), the proportion of Chinese Mainland and Hong Kong in South Korea's semiconductor exports in 2024 will be 51.7%, lower than 61.6% in 2020.
If Chinese Mainland and Chinese Mainland are separated, the semiconductor ratio of South Korea to mainland China will drop from 40.2% to 33.3%, and the semiconductor ratio to Hong Kong will drop from 20.9 to 18.4%. It is expected that more chips exported by South Korea to Hong Kong will eventually be re exported to Chinese Mainland, further highlighting the decline of direct exports to Chinese Mainland.
In contrast, in 2024, Taiwan, China accounted for 14.5% of South Korea's chip exports, far higher than 6.4% in 2020, reflecting that SK Hynix sold high bandwidth memory (HBM) to Nvidia through TSMC. South Korean industry insiders have stated that SK Hynix's HBM will first be shipped to TSMC, which will package SK Hynix's HBM chip with a graphics processing unit (GPU) to produce an artificial intelligence (AI) accelerator, which will then be handed over to Nvidia.
South Korea's semiconductor exports to the United States have been slightly adjusted, dropping from 7.5% in 2020 to 7.2% in 2024.
The share of South Korean semiconductor exports to Vietnam is also increasing, with its proportion rising from 11.6% in 2020 to 12.9% in 2024. This growth is mainly attributed to companies such as Samsung Electronics relocating their smartphone factories from China to Vietnam. Therefore, the export of related components, including semiconductors, has significantly increased.