South Korea Logs Record Sales in Logic Chips Amid Global Crunch

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South Korea posted record sales in logic semiconductors last month, amid a global shortage of chips to operate everything from cars to smartphones.

The country’s exports of logic semiconductors rose 55.7% from a year earlier, climbing to $3 billion for the first time, according to data Monday from the trade ministry. Exports of memory chips, where South Korea leads the world, increased 13.6% to $6.6 billion.

South Korea is broadening its semiconductor portfolio beyond memory chips to extend its leadership in the tiny components essential in electronic devices. While Taiwan remains the No. 1 producer of advanced chips that compute and process large chunks of data, South Korean companies like Samsung Electronics Co. and SK Hynix Co. are trying to catch up by investing more in foundries.

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Chips account for the largest share of South Korea’s exports, which in May recorded their biggest jump since 1988. Sales of mobile phones and displays, two other major areas of tech exports, rose 43% and 38.7%, respectively, indicating a global boom in tech demand as major economies reopen as vaccination campaigns progress.

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