In 2018, South Korea’s mobile phone exports fell by nearly a quarter to Huarui

     According to a statistics released by the Ministry of Science, Technology, Information and Communication and other government departments and agencies on the same day, South Korea’s mobile phone exports in 2018 decreased by 23.2% year-on-year to US$14.61 billion, the lowest level in nearly 16 years.

     According to reports, South Korea’s mobile phone exports surged from US$470 million in 1996 to US$10 billion in 2002, and increased to US$33.44 billion in 2008, surpassing semiconductor exports ($32.79 billion) and becoming the main export product. . However, in 2017, exports fell sharply, falling to less than $20 billion, and further shrinking in 2018, below $15 billion.

     According to exporting countries and regions, exports to China and Hong Kong fell by 37%, and exports were US$4.3 billion. Exports to the US fell 10% to $5.05 billion.