Data earlier in the week showed that exports of South Korean medium and small businesses in the first half of this year decreased by 5.5% compared to the same period a year earlier amid a global economic recession.
Exports of medium and small companies amounted to 55.8 billion dollars in the period from January to June, down 5.5% from last year, according to data released by the Ministry of medium and small-sized enterprises and startups.
The ministry attributed this decline mainly to weak exports of intermediate goods to China and Vietnam as a result of the global economic slowdown, as well as a decrease in exports of Corona test kits for self-use as covid-19 was treated as an endemic disease around the world.
Exports of medium and small enterprises increased by 3.1% year-on-year in June after falling by 9.1%, 6.0% and 5.7% year-on-year in March, April and May, respectively.
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