Korean Chipmakers Record First Drop in Shipments in Three Years

  • Waning demand for memory chips is weighing on Korea’s economy
  • Chip inventory remains high, increasing 80% from year earlier
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South Korean chipmakers recorded their first fall in factory shipments in almost three years in July, highlighting weakening demand for semiconductors that serve as a barometer for the global economy.

Semiconductor shipments tumbled 22.7% from a year earlier, after having risen 5.1% in June, according to a statement from the national statistics office on Wednesday. Nationwide inventories remained elevated in July, up 80% from a year earlier and unchanged from the month prior.

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Korean Chipmakers Record First Drop in Shipments in Three Years