South Korean chipmakers have reduced their chip production in the past year than any other since 2008, as the drop in demand proves deeper than expected.
This is according to data from the country’s national statistics office.
Production across all South Korean chipmakers dropped 41.8 per cent in February from a year earlier. This follows the already drastic 33.9 per cent fall in January.
Inventories increased by 33.5 per cent year-on-year, as factory shipments fell 41.6 per cent.
Korea’s parliament passed a bill this week allowing chipmakers a number of tax breaks, in order to bolster the ailing sector.
