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Issue Report

Collection of full-length papers and in-depth analysis of economic and management issues.

Making SMEs Stronger through Globalization

Making SMEs Stronger through Globalization

KIM Jung-Woo

Dec. 7, 2010

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Originally released on October 21, 2010

In the early 2000s, the share of exports by small -and medium-sized enterprises (SMEs) surpassed 40% of Korea's total exports, with a record high 42.9% in 2001. However, the trend began to reverse course from 2004, decreasing to 30.5% in 2007. It has since remained flat in the neighborhood of 30%, with an exception in 2009 of 32.3%. In terms of the total sales of SMEs, exports recorded 20% in 2007 and 22.1% in 2008, indicating that SMEs exported only about one fifth of their total sales. According to a survey conducted by the Small & Medium Business Administration (SMBA) and Korea Federation of Small and Medium Business (Kbiz) in April 2010, 59.2% of SMEs in the manufacturing sector reported 'no exports,' while those who reported to export 20% of total sales amounted to a mere 20.3%.

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