Autos Become No. 1 Export Item to U.S.

Automobiles became Korea`s No. 1 export item to the U.S., the country`s largest export market, last year by pushing out semiconductors.

Semiconductors, which had been kept the top ranking for last eight years from 1993 to 2000, fell to the third place next to automobiles and wireless communication equipment, such as mobile phones, due to a fall in price.

The Korea International Trade Association (KITA) announced yesterday that automobiles` export to the U.S. recorded $ 5.93 billion and 3.78 million in last year followed by wireless communication equipment ($ 3.81 billion and 6.64 million), semiconductors ($ 3.41 billion and 9.61 million), computers ($ 3.11 billion and 8.36 million), and apparel ($ 2.03 billion and 8.31 million). Automobile, after semiconductors, apparel, and computers, was the fourth export item to the U.S. in 1998, but it inched up in every year and reached the top. Although Korea`s export to the U.S. was decreases in last year, the exports of automobiles increased 16.4 percent.

Due to the U.S.` economic slump in information technology (IT) business and the fall in price, the exports of semiconductors to the U.S. decreased by 56.8 percent from 2000.

While the export of wireless communication equipment increased 28.4 percent, the exports of computers and apparel dropped 37.8 percent and 10.5 percent.

Chi-Young Shin higgledy@donga.com