Korean parts and material recorded the trade surplus in 2009 despite of a global economic downturn. The Ministry of Knowledge Economy (MKE) announced that the country's trade balance last year posted US$51.3 billion with US$171 billion exports and US$119.7 billion imports.
Most of the credit goes to semiconductors, LCDs, electronic components, and optical fibers. It was a record-breaking 2009 for electronic components, for example, it increased by 2.6 percent to set the record at US$63.2 billion.
Although the overall trade surplus has set its highest record, the analysts claim that the material sector has to continue strengthening its competitiveness.
Parts and material trade balance against China last year tallied an all-time high surplus of US$33.8 billion, while the figure against Japan remained in the red with a deficit of US$20.1 billion. This is mainly due to the increased imports in Japanese LCD's relating core parts and materials, which include liquid crystal, TAC film, and polarizer.
"The data calls for market diversification to improve in terms of market orientation in China and Japan," the MKE spokesman said. The government has already made the comprehensive countermeasures last year to encourage the competitiveness of materials and components. The MKE will watch closely on the development of Top Ten Core Material in the New Year.
