Exports Hit Record High, But Top 10 Firms' Share Also at All-Time Peak

Last year, Korea's export value exceeded 700 billion dollars for the first time in history, but 40% of total exports were concentrated in the top 10 companies.

With manufacturing industries other than semiconductors remaining sluggish, polarization has deepened both around large corporations and across different industries.

According to the annual trade statistics by corporate characteristics recently released by the National Data Office, last year's annual export value was 709.4 billion dollars, up 3.8% from a year earlier.

This is the first time that annual exports have surpassed 700 billion dollars. The growth rate, however, slowed compared with the previous year's 8.1%.

By company size, export value increased for all segments: large corporations (3.4%), mid-sized companies (2.0%), and small and medium-sized enterprises (7.2%).

However, the trade concentration ratio of the top 10 exporting companies, including Samsung Electronics, SK Hynix, Hyundai Motor, LG Electronics, Samsung Display, and LG Energy Solution, reached 39.0%, up 2.4 percentage points from a year earlier.

The 39.0% share is the highest level since related statistics began to be compiled in 2010.

Even when the scope is expanded to the top 100 companies, the trade concentration ratio (67.1%) rose by 0.4 percentage points, indicating that the tilt toward large corporations has intensified.

Jung Kyuseung, head of the Corporate Statistics Team at the Data Office, explained, "The concentration ratio is at a record high level, and the increase in semiconductor exports had the greatest impact."

By industry, exports decreased in wholesale and retail trade (-6.3%), but increased in mining and manufacturing (5.1%) and in other industries (4.4%).

Import value stood at 631.8 billion dollars, unchanged from the previous year. Imports decreased for large corporations (-3.5%), but increased for mid-sized companies (7.7%) and small and medium-sized enterprises (4.6%).

The trade concentration ratio of the top 10 importing companies was 29.3%, down 1.3 percentage points. For the top 100 companies, the trade concentration ratio (55.6%) fell by 1.1 percentage points.

By industry, imports decreased in mining and manufacturing (-2.4%) and in other industries (-1.0%), but increased in wholesale and retail trade (6.5%). By company size, imports decreased for firms with 250 or more employees (-2.9%), but increased for those with 10 to 249 employees (6.4%) and 1 to 9 employees (7.5%).

By use, imports decreased for raw materials (-5.6%), but increased for capital goods (6.6%) and consumer goods (1.6%).

This content was produced with the assistance of AI translation services.