[AKEI NEWSLETTER 18호]Small and medium-sized business exports surpass $105.2 billion……
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Small and medium-sized business exports
surpass $105.2 billion… From 62nd to 2nd in cosmetics items...
It was found that this year's export
performance of small and medium-sized companies broke the previous record in
2018, the highest ever. The Korea Customs Service (Director Lim Jae-hyun) and
the Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter the
Ministry of SMEs and Startups) announced on the 30th that exports of SMEs
exceeded an all-time high of $105.2 billion (2018).
Despite the COVID-19 situation, it is
analyzed as a possible achievement as Korean exporters are expanding their
export bases thanks to the global economic recovery, and national awareness and
performance of small and medium-sized companies due to the Korean Wave culture
craze on the global stage.
Among the main items, cosmetics grew
rapidly from 62nd place in 2010 to 2nd place this year thanks to the popularity
of the Korean Wave and K-beauty, and exports of semiconductor manufacturing
equipment and K-quarantine-related medicines also quadrupled.
Other items with high growth rates include
processed foods. Exports of processed agricultural, fisheries, and livestock
products worldwide rose 161% from 2010 to $1.5 billion. Major export countries
have been maintained in China, the United States, Vietnam, and Japan over the
past decade without much change.