South Korean Small Enterprises Export Increases By 2% Over Decade

South Korean small enterprises are struggling with exports as their outbound shipments rose only 2 percent over the past decade.

The Ministry of SMEs and Startups said Monday that South Korea’s exports totaled around $512b dollars last year, soaring 10 percent from ten years before.

Large conglomerates saw a jump of almost 6 percent and medium-sized firms a bumper 43 percent jump.

That’s a huge gap compared to the 2.1 increase for smaller firms in the country, showing the difficulties they face in expanding export routes.

Their largest export partner is China but the size of that market decreased by almost 11 percent in the past decade.