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Over 2,000 S. Korean firms sell products in eBay, Taobao

All News 11:19 June 05, 2017

SEOUL, June 5 (Yonhap) -- More than 2,000 South Korean companies sell their products in global online shopping websites eBay and Taobao as they look overseas for growth, the government body in charge of small and medium enterprises said Monday.

The Small and Medium Business Administration (SMBA) said it signed a contract with a local online shopping company in 2014 to help the country's small and medium-sized enterprises (SMEs) sell their products in eBay and Taobao.

The SMBA expected there will be a growing demand for price-competitive and quality products manufactured by Korean SMEs in global markets once they are exposed to overseas customers.

Last year, a total of 2,036 Korean SMEs sold 44.3 billion won (US$40 million) worth of products through the United States and Chinese online shopping malls, according to SMBA.

The SMBA said it will continue to support Korean companies so that they can expand into emerging markets, such as China and Southeast Asia.

Taobao --- a Chinese online shopping website similar to eBay and Amazon -- is operated by Alibaba Group.


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