China slowdown: Global impact

Less-than-rosy outlook for South Korean and Japanese chipmakers

South Korea's central bank has cut the country's growth forecast by 0.1 percentage point to 2.6 per cent, citing the rise in external uncertainties.
South Korea's central bank has cut the country's growth forecast by 0.1 percentage point to 2.6 per cent, citing the rise in external uncertainties.PHOTO: AFP

The export-reliant economies of South Korea and Japan are braced for the impact of China's economic deceleration this year.

South Korea shipped a record-high US$162.2 billion (S$220 billion) worth of goods to its largest trade partner, China, last year. The 14.2 per cent on-year increase was driven by a surge in demand for memory chips, computers, machinery and petroleum goods.

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A version of this article appeared in the print edition of The Straits Times on January 29, 2019, with the headline 'Less-than-rosy outlook for chipmakers'. Subscribe