South Korea’s chip inventory climbs at fastest pace in 27 years

South Korea’s semiconductor inventory rose at the fastest pace in almost 27 years in January, underscoring a prolonged tech slump that’s dragging on the country’s economic growth.

Chip stockpiles jumped 28% from a month earlier, the biggest increase since February 1996, Korea’s statistics office said Thursday in a statement. From a year earlier, stockpiles advanced 39.5%.

Chipmakers are a key driver of South Korea’s trade-reliant economy, accounting for about 12% of total exports last month. With global semiconductor demand in a slump, the economy contracted in the final three months of 2022, and the current quarter also looks challenging as exports fall further.

South Korea’s semiconductor inventory rose at the fastest pace in almost 27 years in January, underscoring a prolonged tech slump that’s dragging on the country’s economic growth.

Chip stockpiles jumped 28% from a month earlier, the biggest increase since February 1996, Korea’s statistics office said Thursday in a statement. From a year earlier, stockpiles advanced 39.5%.

Chipmakers are a key driver of South Korea’s trade-reliant economy, accounting for about 12% of total exports last month. With global semiconductor demand in a slump, the economy contracted in the final three months of 2022, and the current quarter also looks challenging as exports fall further. Bloomerg