Lates News

In the third quarter of this year, South Korea's export concentration deepened further. Driven by the semiconductor industry boom, the gap between large enterprises and small and medium-sized enterprises widened, and the share of South Korea's top ten exporting companies in total exports exceeded 60%, the first time since records began in 2010. According to data released by relevant authorities on Tuesday, South Korea's total exports in the third quarter surged 72.3% year-on-year to $318.6 billion, the highest quarterly level since records began in 2015. By enterprise size, exports by large enterprises jumped 103.5%, driven mainly by semiconductor manufacturers such as Samsung Electronics and SK Hynix. In contrast, exports by small and medium-sized enterprises grew only 12.8% and 10.7%, respectively. In the third quarter, semiconductor exports soared 219% year-on-year to $148 billion, accounting for 46.5% of total exports, up from 25.1% in the same period last year.