Korea IT sector breaks records in exports, trade surplus in May

South Korea logged its largest ever exports and trade surplus in the IT sector last month. The Ministry of Science, ICT and Future Planning (MSIP) and Ministry of Trade, Industry and Energy (MOTIE) said last Sunday the IT sector posted exports of $15.15 billion and a trade surplus of $8.27 billion in May, according to Yonhap News.

The exports jumped 17.2 percent year-on-year (yoy) and trade surplus 23.6 percent to break fresh monthly all-time highs. The previous monthly record exports in the IT sector stood at $14.54 billion in October last year and that of trade surplus at $7.84 billion in November in the same year.

The recent booming exports pushed the combined exports and trade surplus between January and May this year to record-highs of $67.97 billion and $35.07 billion respectively.

For full article, see Maeil Business.

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