A string of statistical data showed that China's retaliation against Korea's Terminal High Altitude Area Defense (THAAD) deployment is not having a great impact on Korea's exports.
A good example of this trend is ICT products such as semiconductors and displays. Korea's ICT exports amounted to US$14.06 billion last month, up 22.8 percent from a year ago. This was the first time for Korea to achieve more than 20-percent growth in ICT exports since August 2010 (26.4%).
The nation's ICT shipments to China also jumped by 34.1 percent to $7.43 billion last month, rising for three straight months.
Excluding mobile phones that suffered a 19.1-percent decline in shipments, the shipments of other major ICT items such as semiconductors, displays, TVs, and computers and peripherals enjoyed a positive growth of 75.9 percent, 7.9 percent, 3.7 percent, and 2.6 percent, respectively.
The nation's overall exports amounted to $43.2 billion last month, up 20.2 percent year on year, the highest growth since February 2012 (20.4%).
During the period from January 1 to March 10, 2017, Korea's exports totaled $14.27 billion, up 19.3 percent year on year, indicating that the ripple effect of China's retaliatory measures against Korea is negligible.