Semiconductor production plunged 17.1% in February, the largest decline in semiconductor production since December 2008 (-18.1%) during the financial crisis, and Samsung Electronics' operating profit in the first quarter was expected to drop by 89%.
According to the data from the National Statistical Office for February, the mining industry (11.9%) increased from a decrease in manufacturing (-3.1%) and electricity and gas (-8.0%).
FnGuide, a financial information company, estimated that securities companies' first quarter operating profit of 64 listed companies was 12,448.4 billion won, down 66% from the same period last year. It is expected to decrease by 89.4% from 14.1214 trillion won in the previous year, and it is a one-fifth drop between 7.1142 trillion won and only 3 months as expected in December last year for the first quarter of this year.
As for the Korean economy, as of early December of last year, the projected operating profit of these companies was 24.5201 trillion won, then reduced to 22.7713 trillion won in early January and 16.368 trillion won in early February, but plunged to 7 trillion won in March. It was reported on the 30th that it had been adjusted. Securities companies' expectations for a sharp drop in operating profit in the first quarter are Posco Holdings (-66.6%), Samsung Electro-Mechanics (-68.5%), SK Innovation (-66.3%), and LG Chem (-40.9%). .
Statistics Korea's February manufacturing inventory decreased in electrical equipment (-3.0%) and telecommunications and broadcasting equipment (-9.1%), but increased in semiconductors (3.9%), mechanical equipment (5.7%), and electronic parts (9.5%) from the previous month. increased by 0.9% compared to
The decline in semiconductor exports is a sharp decline of $4.32 billion (-44.7%, compared to the same period last year) in export statistics from March 1 to 20.
In addition, exports to China also decreased by 6.18 billion dollars (-36.2%).
China's exports declined 36.2% YoY from March 1st to 20th, while imports increased 9.1% YoY, marking the 8th consecutive month of decline in exports.
The decline in semiconductor exports to China began in August of last year for memory semiconductors, and the decline in system semiconductors continued from November, resulting in a trade deficit with China.
The Korea International Trade Association (KITA) announced on the 28th that the decline in exports was 12.6% in the first quarter, 11.9% in the second quarter, and 10.1% in the third quarter, followed by a 0.5% increase in the fourth quarter.
The impact of the decrease in semiconductor exports on overall exports accounted for 70.3% of total exports in January and February, and the share of semiconductor exports in total exports plummeted to 12.8% by March 20th.
For semiconductors, export unit prices have fallen since April of last year, and shipments plunged 19.3% in January.
The Korea International Trade Association (KITA) revealed that as of February, the decline in semiconductor exports to the United States plunged by 69.1%, followed by Hong Kong by 59.2%, Taiwan by 45.9%, Vietnam by 35.8%, and China by 39.7%.
Securities companies released a report in March that raised the target price of Samsung Electronics, and Samsung Electronics stock prices rose on the 30th.
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