Export concentration in top 10 firms rises sharply in Q2 amid chip boom

In the second quarter, the share of South Korea's top 10 exporters in the country's total outbound shipments surged significantly, a trend attributed to the booming technology sector, particularly semiconductors. This surge is evident in the data, which shows that the top 10 firms accounted for 55.3% of total exports in Q2, a sharp rise from 38.3% a year earlier.

The Ministry of Data and Statistics compiled these figures. Moreover, the top 100 exporters' share expanded from 66.3% to 76.3% over the same period. Total exports soared by 57.3% to $275.5 billion in Q2 compared to the previous year. Notably, exports by conglomerates increased by 81.8% to $206 billion, reflecting the nation's heavy dependence on large corporations.

Medium-sized businesses' exports grew by 10.9% to $35.9 billion, while smaller enterprises' exports rose by 13.1% to $32.7 billion. In terms of industry, the mining and manufacturing sector's exports surged 64.9% to $247.5 billion, propelled by robust shipments from the electronics industry, including semiconductors. The electronics industry alone saw exports double to $160 billion, constituting 58% of total exports. The wholesale and retail sector's exports likewise grew by 14.3% to $21 billion.