April 26, 2024

• 

[THE INVESTOR] Exports by Korea’s venture startups will likely hit a record US$20 billion this year, industry data showed on Oct. 27.

The amount reached US$14.7 billion for the first nine months this year, up 14.6 percent from a year earlier, according to the statistics provided by the Korea International Trade Association.

Exports by startups rose to US$18 billion last year from US$16.7 billion in 2014.

The total shipments during the January-September period break down by country to US$3.6 billion for China, up 13.8 percent from the previous year, US$2.1 billion for Vietnam, up 51.6 percent from a year earlier, and US$1.8 billion for the United States, a 5.8 percent on-year gain.

Exports of instrumentation and control devices surged 85.7 percent this year from the previous year, while the comparable figures for semiconductor production equipment and flat panel displays moved up 33.3 percent and 57.1 percent, respectively.

Shipments of soaps, cosmetics and toothpastes also rose by 33.7 percent this year from a year earlier.

By Alex Lee and newswires (alexlee @heraldcorp.com)