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 soar to 60.9%, up from 40.5% a year earlier, according to data from the Ministry of Data and Statistics. The electronics industry, particularly the semiconductor sector, was the primary driver behind this surge, with exports increasing by an impressive 143.6%.
By company size, conglomerates experienced a dramatic doubling of their exports, reaching $248.6 billion. Medium-sized companies also saw a significant increase, with their exports growing by 12.8% to $36.9 billion. Small enterprises followed suit, with their exports rising by 10.7% to $32.7 billion.
The mining and manufacturing sector, which includes the electronics industry, saw a remarkable 82.8% increase in exports. This sector alone contributed $291.5 billion to South Korea's total exports in the third quarter, which amounted to $318.6 billion, a 72.3% increase compared to the same period last year.
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.
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