Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
지나쌤

Exports of small firms hit record high in 2018

By Yonhap

Published : Jan. 20, 2019 - 15:38

    • Link copied

Exports of small and medium-sized South Korean firms hit a record high of $114.6 billion last year, government data showed Sunday, due to a robust global manufacturing sector.

The figures represent an 8 percent increase from 2017, according to the data compiled by the Ministry of SMEs and Startups. It was the second straight year that the export volume of small and medium-sized firms surpassed $100 billion.

By product, plastic goods remained the top export item for the second consecutive year with $5.5 billion worth of exports, up 6.1 percent from 2017, due to hikes in oil prices and robust manufacturing sectors in major economies.


(Yonhap) (Yonhap)

Exports of cosmetics rose 27.7 percent on-year to $4.8 billion in 2018 amid the growing popularity of Korean beauty products in the United States, China and Russia.

Outbound shipments to China by small and medium-sized South Korean companies stood at $27.3 billion in 2018, up 17 percent from a year earlier. The firms‘ exports to the US rose 12 percent on-year to $13.3 billion.

The number of small and medium-sized exporters hit a record high of 94,589 in 2018, up 2.4 percent from a year earlier. Their combined exports accounted for 18.9 percent of the country’s total exports in 2018, up 0.4 percentage point from a year earlier.

The latest data is a reminder that family-controlled conglomerates have dominated Asia‘s fourth-largest economy for decades. (Yonhap)

More from Headlines