Taiwan Central Bank Sees Strong Tech, Weak Traditional Industries Across Taiwan, Japan and South Korea

The restructuring of global supply chains and rapid expansion of AI applications have made semiconductors, servers and information and communications technology products major drivers of Asian exports and investment. Taiwan’s central bank said Taiwan, Japan and South Korea all show the same pattern of strong technology sectors and weak traditional industries. This reflects an ongoing industrial transition in all three economies, with the pace of modernization in traditional manufacturing set to shape future growth momentum.

The central bank’s latest report showed that Taiwan’s economic growth is currently driven mainly by the electronics and information and communications technology industries. Japan and South Korea face a similar divide between thriving technology sectors and relatively weak traditional industries. The central bank recommended that traditional industries capitalize on existing ICT strengths by adopting AI, digitalization and smart manufacturing. The available event data did not specify the report’s publication date or any related financial amounts.