SME exports increase 3.1 pct in June

▲ This undated file photo shows shipping containers at a pier under an overcast sky in South Korea's largest port city of Busan, 320 kilometers southeast of Seoul. (Yonhap)

SME exports-June tally

SME exports increase 3.1 pct in June

SEOUL, July 31 (Yonhap) -- Exports by South Korean small and midsized enterprises (SMEs) rose more than 3 percent in June from a year earlier on higher overseas demand for autos and cosmetics, data showed Monday.

Local SMEs' overseas shipments came to US$9.77 billion last month, up 3.1 percent from a year earlier, according to the data from the Korea Small Business Institute.

It marks the first on-year increase in four months. Their exports fell 9.1 percent on-year in March, 6 percent in April and 5.7 percent in May.

Auto exports spiked 171.5 percent in June from a year earlier, with those of cosmetics jumping 31.1 percent.

In June, South Korea's overall exports dropped 6 percent on-year to $54.24 billion on weak global demand for chips, falling for the ninth straight month.

The data also showed the combined SME workforce stood at 25.7 million as of end-June, up 219,000 from a year earlier.

In May, the number of newly established companies stood at 107,598, down 7.1 percent from a year earlier.

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