South Korea’s electronics output was the world’s third largest in terms of value last year thanks to brisk sales of memory chips, an industry report showed.

The total production of the electronics industry in Asia’s fourth-largest economy came to $171.1 billion in 2018, accounting for 8.8 percent of the global market, the Korea Electronics Association said in the report.

China’s electronics output accounted for 37.2 percent of the global market last year, and the United States came next with a 12.6 percent portion, the KEA said, referring to data from Reed Electronics Research. (Yonhap)