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South Korea’s Tech Exports Drop in Sign of Cooling Global Demand

  • Technology-related exports decline for first time in two years
  • Memory-chip shipments lead falls as demand from China weakens

South Korea’s technology exports declined for the first time in more than two years in July, in a sign that global demand is cooling as concerns mount about the outlook for the world economy. 

Exports of information and communications products edged down 0.7% from a year earlier, after a 6.8% gain in June, trade ministry data showed Thursday. Memory chips, produced by firms like Samsung Electronics Co., led the falls with a 13.5% drop, even though overall semiconductor shipments still rose 3.1%.