Electronics Industry Expects "Explosive" Surge in Demand for Chips, LCD After Pandemic

There will be an explosive surge in demand for chips and liquid crystal displays as early as the second half of the year, according to South Korea's electronics industry.

Skyrocketing demand for IT devices would trigger the ascent.

Also expected to experience growth are lithium-ion batteries and health care and hygiene-related appliances, and robotics.

The optimistic picture in the post-coronavirus era is being painted by experts from the semiconductor, display, telecommunications, and battery sectors.

The said experts gathered Tuesday to discuss strategies on how to deal with demands after the virus is contained at an event hosted by the Korea Chamber of Commerce and Industry.

The attendees agreed on the need for preemptive measures in availing of new opportunities brought about by a post-coronavirus market.

The industry experts forecast that the new opportunities may be centering on robotics and technologies that allow interaction without a face to face meeting.

Hi Investment & Securities analyst Song Myung-seob pointed out that there might not even be a negative impact on the semiconductor industry if the spread of the virus in Europe and the US slows down in the second quarter.

However, it's a different scenario for the electric vehicles, which is continuing to grow amid the COVID-19 shutdown, according to Kiwoom Securities research head, Kim Ji-san.

Consequently, it allows the Korean players to pad their lead over Chinese rivals.