87.7% of Semiconductor Companies in Gyeonggi Expect This Year's Sales to Increase or Remain Similar to Last Year

87% of semiconductor companies in Gyeonggi-do expect their sales this year to increase or remain at a similar level compared to last year.

On the 6th, the Gyeonggi-do Economic Science Promotion Agency conducted a survey in November last year targeting 1,000 semiconductor companies in the province. According to the results, 27.8% of the responding companies answered that "sales will increase compared to last year." Additionally, 59.9% said sales would be "similar." On the other hand, only 12.3% responded that sales would "decrease."

Companies forecasting sales growth cited "improvement in product and technological competitiveness" (42.1%) and "development of new sales channels" (32.4%) as reasons.

Conversely, companies predicting a sales decline pointed to ▲rising labor costs (29.3%), ▲decline in product and technological competitiveness (17.1%), and ▲deterioration of global economic conditions (13.8%) as causes.

Gyeonggi-do Economic Science Promotion Agency

Regarding exports, 31.6% and 54.7% of respondents answered "increase compared to last year" and "similar," respectively. The response of "decrease compared to last year" was 13.7%.

Key factors positively influencing export outlooks included "recovery in demand trends," "increased demand for semiconductors in advanced fields such as artificial intelligence (AI)," and "improvement in product and technological competitiveness."

Among companies without export experience, 25% said they plan to start exporting in the future.

The companies participating in the survey cited "issues with raw material supply and price increases" (38.7%) as the biggest challenge in management activities this year. This was followed by "various regulations" (27.4%), "securing funds" (26.7%), and "exchange rate fluctuations" (17.7%).

Kang Seong-cheon, Director of the Gyeonggi-do Economic Science Promotion Agency, stated, "Based on this survey, we will strengthen systematic support for semiconductor-related companies in line with Gyeonggi-do's semiconductor industry development policies and strive to make Gyeonggi-do a global center for the semiconductor industry."

This content was produced with the assistance of AI translation services.