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Staff Reporter
South Korea has become the largest net exporter of information and communication technology (ICT) among advanced economies, with its corporate arms introducing state-of-the-art gadgets ahead of foreign rivals and successfully meeting an increasingly sophisticated consumer demand across the globe.
The Organization for Economic Cooperation and Development (OECD) said Friday in a ``Science, Technology and Industry Scoreboard'' report that Asia's fourth largest economy posted a $43.3-billion trade surplus in the ICT sector in 2007, up from $37.5 billion a year. It was the largest among the 30 OECD member countries.
The nation exported a range of ICT products, including computers and cell phones, worth $97.4 billion in 2007, while importing technology goods valued at $54.1 billion. Korea's ICT trade surplus has been growing by an annual average of 10 percent from 1996 to 2007. In 1996, Korea earned $10.8 billion in ICT trade.
The country's rapidly expanding trade surplus is largely attributed to its two electronics giants ― Samsung Electronics and LG Electronics, which have been dominating the world of information technology. The two are commanding the largest shares in most overseas markets, with their home appliances, semiconductors, liquid crystal display (LCD) products and handsets selling like hot cakes.
``Not only these large firms, but also there are a number of small- and medium-sized enterprises (SMEs) here that are producing and shipping advanced technology gadgets abroad. The domestic information technology industry do have the global competitiveness,'' an industry expert said.
He suggested companies continue to invest in research and development, and closely monitor changes in consumer tastes in order to maintain dominant positions.
After Korea, Japan came in second among OECD economies, earning $36.4 billion in ICT trade, followed by Mexico with $11.4 billion and Ireland with $5.9 billion. Only eight OECD members posted a surplus, with the remaining 22 recording deficits.
The United States, the world's largest electronics market, suffered the largest shortfall of $108.7 billion in 2007, with an increasing number of U.S. consumers preferring foreign-made information technology goods because of their higher quality and lower prices in comparison to home-made brands. Britain incurred the second largest deficit of $31.2 billion, followed by Spain with $22.7 billion and Canada with $17.4 billion.
leehs@koreatimes.co.kr
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