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Monday, August 19, 2019

Samsung electronics accounts for 20 percent of Korea's exports

As reported in The Korea Joongang Daily, Samsung Electronics has steadily increased its dominance in Korea's manufacturing and export-led economy since 1980.  During the first half of this year the company accounted for 20 percent, or fully one fifth  of South Korea's exports. (click on the graphic for a full size version) 
The Korea Joongang Daily article noted that "In its semi-annual report released Wednesday, the electronics giant’s sales from January to June stood at 75.19 trillion won ($67.13 billion). Domestic sales totaled 10.52 trillion won, accounting for 14 percent of entire sales, while the company raised 64.67 trillion won overseas in the same period. Samsung Electronics’ overseas sales account for more than 20 percent of Korea’s estimated 271 billion dollars of exports reported by the Korea International Trade Association."  During the first half of 2019 the America's replaced China as the largest source of export sales, reportedly due to the trade war between the U.S. and China.

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