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Firms expanding overseas show better records in sales, employment

All News 11:25 July 11, 2018

SEOUL, July 11 (Yonhap) -- South Korean companies that have made inroads into overseas markets reported higher growth in their sales and employment, data showed Wednesday.

The turnover for the 1,674 companies that tapped foreign markets surged 10.21 percent on average between 2011 and 2016, while 76,368 firms operating solely at home posted an average of a 7.74 percent increase in their sales, data by the Korea Credit Guarantee Fund (KODIT) said.

New hiring during the period advanced 6.82 percent on average for the business entities that went abroad, which represents a 1.6 percent edge over their domestically focused counterparts, KODIT noted.

"We will extend support for more small and mid-sized firms so they can enter foreign markets and find greater chances for growth," a KODIT official said.

South Korean diplomats on overseas missions hold consulting sessions with local businessmen in Seoul on December 21, 2017, to help companies make inroads into foreign markets. (Yonhap)


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