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Exports by venture firms surge

According to Yonhap News,

(SEOUL=Yonhap News) Exports by South Korean venture firms increased this year on the back of strong sales of semiconductors and electronic parts in Vietnam and the United States, data showed Thursday.

Outbound shipments by such firms reached US$12.63 billion in the first nine months of this year, up 4.5 percent from a year ago, according to the data compiled by the Korea International Trade Association (KITA).

In the same period, South Korea's overall exports fell 6.6 percent on-year to $396.86 billion.

Their strong performance was attributable to expanded sales of semiconductors and wireless communication equipment, the KITA said.

Venture firms' exports to the U.S. increased 11 percent on-year to $1.64 billion over the period, while those to Vietnam soared 67.6 percent to $1.21 billion.

In contrast, their shipments to Japan dropped 13.6 percent to $987 million as the weaker yen cut costs of Japanese products, according to the data.

Copyrights Yonhap News. All Rights Reserved.

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Source: Yonhap News (Nov. 12, 2015)

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