South Korea Expects Wireless Exports to Reach $16 Billion at Year End
Dec 2, 2003
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South Korea is expected to export more than U.S. $16 billion worth of mobile handsets and wireless equipment by the end of 2003, the Ministry of Information and Communication in Seoul, South Korea said.
According to preliminary figures released by the Ministry, exports of mobile handsets and mobile systems were expected to reach $15 billion by the end of November.
South Korea exported $11.7 billion worth of such goods in 2002.
The ministry said that exports of mobile equipment have passed the $15 billion mark within 8 years of South Korea's entry into the market, compared with 12 years for semiconductors and 25 years for automobiles. The last two are South Korea's core export items.
Exports of mobile telecommunications equipment accounted for 29 percent of South Korea's total exports of information and technology goods in the first half of this year.
The Ministry said that the exports of mobile handsets and systems would represent 26 percent of the worldwide mobile market by 2010, up from 14.4 percent in 2002.
South Korea plans to invest 320 billion won through 2007 to develop next-generation mobile technology and for training specialists in the area, the ministry said. (Dow Jones)
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