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  Conglomerates’ reliance on exports deepens in 2013
  Poster : admin     Date : 14-07-03 11:36     Hit : 460    
South Korean conglomerates’ dependence on overseas markets deepened last year, as they relied on exports for nearly half of their sales, data showed Wednesday.

Out of the 1,445.6 trillion won ($1.43 trillion) in total sales, 48 percent, or 693.6 trillion won, came from exports, up 2.2 percent from 2012, according to CEO Score, a market researcher that tracks corporate management data. The data was based on an analysis of 1,451 firms belonging to 45 conglomerates.

Domestic sales, on the other hand, fell 4.9 percent to 752 trillion won from the year before, due mainly to the prolonged slump in local consumption.

Total sales of the family-run conglomerates, known here as chaebol, fell 1.6 percent compared with 1,469.3 trillion won tallied in the previous year, as the fall in domestic sales outpaced the increase in exports, according to the data. (Yonhap)

Daewoo Shipbuilding & Marine Engineering, one of the country’s leading shipbuilders, depended the most on exports, with its overseas sales taking up 88.9 percent of total sales at 14 trillion won.