Finance Association News, October 14th (Editor Huang Junzhi) The latest monthly data released by the South Korean government shows that South Korea's technology product exports have slowed for the second consecutive month, indicating that global demand may be reaching its peak.

The data also shows that the growth rates of shipment volume and prices of storage chips have both declined compared to the previous month.

As the "canary" of the global economy, the growth of South Korea's export data not only heralds the recovery of the global economic outlook, but also reflects the strong global demand for technology products.

Alarm sounds.

On Monday (the 14th), the South Korean Ministry of Trade, Industry and Energy stated that in September, exports mainly driven by information and communication technology increased by 24% compared to the same period last year, lower than August's 28.5%. The shipment volume of DRAM chips increased by 57.1%, the lowest growth rate since December last year. DRAM chips are South Korea's most profitable product.

On the other hand, data from DRAMeXchange provided by the South Korean Ministry of Trade, Industry and Energy also shows that the prices of DRAM and Nand flash memory chips both declined last month. Driven by the global development of artificial intelligence (AI), the demand for memory chips has helped South Korea's economy grow faster than initially expected this year.

It is worth noting that exports are the main engine of South Korea's economic growth, and semiconductors, autos, and finished oil products are key products driving South Korea's overall exports.

Among them, Samsung Electronics and SK Hynix are South Korea's largest export companies. South Korea heavily relies on technology to drive trade, supplying components for smart phones, computer screens, rechargeable batteries, and other cutting-edge consumer goods. Technology product exports account for about one-third of South Korea's total exports.

At the same time, South Korea is also a major participant in international trade, with its industry playing a significant role in the global supply chain. Therefore, the country's trade data has always been seen as a leading indicator of global consumer demand and is also known as the "canary in the coal mine" of the global economy.

Despite signs of a cooling economic growth in South Korea, economists and policymakers believe that a rapid cooling is unlikely, so the South Korean economy should be able to sustain its growth momentum until next year. This confidence has also helped the Bank of Korea to maintain its benchmark interest rate at a high level until last week when it was lowered to 3.25%.

Editor/ping