Top 10 firms take up over 60% of Korea's exports in Q3 amid chip boom
The share of Korea's top 10 exporters in the country's total outbound shipments rose sharply in the third quarter from a year earlier, data showed Tuesday, driven by strong demand for semiconductors and other technology products. Exports by the top 10 companies accounted for 60.9 percent of total exports in the July-September period, up from 40.5 percent a year earlier, according to data compiled…
In the third quarter, South Korea's largest exporters saw their share of the country's total outbound shipments rise dramatically, according to data released on Tuesday. The surge was fueled by soaring demand for semiconductors and other technology products. The top 10 companies alone accounted for 60.9% of all exports, a significant increase from 40.5% a year earlier, as compiled by the Ministry of Data and Statistics.
The country's top 100 exporters contributed 79.4% of total exports, up from 67.9% a year earlier. In total, Korea's exports reached $318.6 billion in the third quarter, marking a 72.3% year-on-year increase. Within the conglomerates, exports more than doubled to $248.6 billion, while medium-sized companies saw a 12.8% rise to $36.9 billion, and small enterprises also grew by 10.7% to $32.7 billion.
The mining and manufacturing sector saw the biggest surge, with exports jumping 82.8% to $291.5 billion. Within this sector, the electronics industry, particularly chip exports, experienced an exceptional 143.6% increase.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
