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SMEs Lead Korea's Exports of Promising Consumer Goods

May 29, 2017 08:23|May 29, 2017 08:23
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Small- and medium-sized enterprises turned out to have accounted for 84 percent in Korea's exports of promising consumer goods last year.


According to a report released by the Institute for International Trade, a policy think tank of the Korea International Trade Association, the nation's exports of promising consumer goods are led not by large companies but by SMEs.


The country's shipments of five promising consumer goods, including cosmetics, drugs, fashion apparels, agro-fishery products, and living and baby goods,  amounted to US$23.53 billion last year.


Of the total, SMEs accounted for $19.8 billion or 84.1 percent of the total, while large companies took up only for 15.9 percent or $3.73 billion.


In the nation's overall exports, however, the share of large companies was higher at 62.5 percent, while that of SMEs stood at 37.5 percent.


This indicates that SMEs performed better in the categories of the five promising consumer goods than other industrial categories.