Korean IT exports to hit $85 bln in 2005

Korea exported $75 bln in IT products last year, accounting for just under a third of the nation’s exports, estimated at about $254 bln by the Bank of Korea. The country’s Information and Communication Minister, Chin Dae-je, is predicting a 13% increase in IT exports this year, to $85 bln. Cell phones and semiconductors are Korean anchor industries, accounting for $22.4 bln and $26.9 bln in exports for 2004, respectively.