March 15, 2004 – South Korea’s semiconductor trade deficit ballooned to a record $1.79 billion in 2003 due largely to trade with Japan, according to data from the Korea International Trade Association.

Exports increased 17.5% to $19.53 billion, but were exceeded by imports which rose at a 22% clip to $21.32 billion — Japan took in 10.4% of Korean exports, and accounted for 15% of imports, the Asia Pulse Businesswire reported. It was the third straight year of mounting losses for semiconductor trade, the nation’s biggest export item.