Tuesday, September 25, 2018
ICT Industry Output Hits All Time High of 468 Trillion Won Last Year
Continuous Boom of ICT Industry
ICT Industry Output Hits All Time High of 468 Trillion Won Last Year
  • By Cho Jin-young
  • April 13, 2018, 15:08
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ICT industrial production last year accounted for 11.8% of the nation’s total industrial output (3971 trillion won).
ICT industrial production last year accounted for 11.8% of the nation’s total industrial output (3971 trillion won).

It has been found that last year, production of Korea's ICT industry amounted to 468,384.1 billion won, the highest ever, showing an 8.7% increase from the previous year.

According to the results of a survey of production of major ICT items in 2017 released by the Ministry of Science and ICT on April 12, the ICT industry’s output of last year marked the highest growth rate since 2010 (402 trillion won, an increase of 18.3%). The record was attributable to strong exports of semiconductors, displays, computers and peripheral devices according to analysts. Last year ICT industrial production accounted for 11.8% of the nation’s total industrial output (3,971 trillion won).

In detail, production of information, telecommunication and broadcasting equipment accounted for 72.9% (341,273.5 billion won) of total ICT industry output, while information and communication broadcasting service output reached 74,488 billion won, accounting for 15.9% and software output hit 52,626.2 billion won, accounting for 11.2%.

Last year, ICT industrial production by SMEs rose 2.8% to 137.599.1 billion, accounting for 29.4% of total ICT production.

By sector, SMEs’ production of information, telecommunication and broadcasting equipment accounted for 54.7%, that of information, telecommunication and broadcasting services, 18.1% and that of software, 27.2%.

In particular, software production by SMEs accounted for 71.2% of the total ICT software production, so the growth of software production by SMEs was remarkable.