Export concentration in top 10 firms rises sharply in Q2 amid chip boom
The proportion of Korea's top 10 exporters in the country's total outbound shipments in the second quarter sharply expanded from a year earlier, data showed Tuesday, driven by the strong performance of technology products, including semiconductors. Outbound shipments by the 10 businesses accounted for 55.3 percent of total exports in the April-June period, compared with 38.3 percent a year…
The share of Korea's top 10 exporters in the nation's total outbound shipments surged in the second quarter, reaching 55.3% of all exports, compared to 38.3% a year earlier, according to data from the Ministry of Data and Statistics. This sharp increase was primarily fueled by the robust performance of technology products, particularly semiconductors.
The country's top 100 exporters also saw their share expand from 66.3% to 76.3% of total exports during the same period. Overall, Korea's exports skyrocketed by 57.3% to $275.5 billion in the second quarter of the year, marking a significant rise from $175.3 billion in the previous year. The data revealed that large conglomerates contributed to this growth, with their exports soaring 81.8% to $206 billion.
This surge was largely driven by the mining and manufacturing sectors, which saw exports increase by 64.9% to $247.5 billion.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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