ULSAN < invest Korea

According to Yonhap News,

The number of venture companies that record KRW 100 billion in annual sales increased seven times in five years in Busan and Ulsan.

According to Busan and Ulsan Small and Medium Business Administration(SMBA) on July 11, the number of companies with annual sales of KRW 100 billion stood at 29, up from 4 in 2005. (18 in Busan, 11 in Ulsan)

5 companies in Busan(Unick, Sungil, Daedong, Jinyang Metal, ENK) and 2 companies in Ulsan( Sejin Metal, Hanjoo Metal) joined the ranks of companies with over KRW 100 billion in annual sales last year.

The number of KRW 100 billion sales companies had been on the rise since 2005, but the rise slowed down in 2009 due to the global financial crisis.

An official from the SMBA said that the number of the venture companies with record sales rose by 26% year-on-year thanks to efforts of local venture businesses and the economic recovery. He continued to say that the SMBA will do utmost efforts to introduce key factors of success of these companies to prospective venture companies.

Source Text

Source: Yonhap News (July 11, 2011)

** This is an English translation of a Korea news article.