Top 10 conglomerates overseas sales down 4.6% in 2014

GMT 05:23 2015 Sunday ,02 August

Arab Today, arab today Top 10 conglomerates overseas sales down 4.6% in 2014

Overseas sales down
Seoul - Yonhap

South Korea's top 10 business groups' exports fell 4.6 percent on-year in 2014, data showed Sunday, with only three experiencing an increase in overseas sales.

The combined revenue from exports for the conglomerates came to 546.4 trillion won (US$466 billion) last year, compared to 573.1 trillion won posted in 2013, the data compiled by industry tracker showed.

The overseas market was responsible for 51.1 percent of the groups' combined revenue in 2014, down 2.2 percentage points from 53.3 percent posted a year earlier.

Samsung Group, which holds tech giant Samsung Electronics Co. under its wing, was the biggest loser by posting overseas sales of 189.1 trillion won last year, down 12.3 percent from 2013. Sales of GS Group also nosedived 10.8 percent over the cited period.

LG Group saw its overseas sales fall 0.8 percent to reach 70.3 trillion won, led by losses from LG Display Co. and LG Chem Ltd.

Top steelmaker POSCO Group, on the other hand, raked in 35.7 trillion won from the overseas market last year, up 16.4 percent on-year to take up 50.4 percent of its combined revenue.

Hyundai Motor Group, which owns Hyundai Motor Co. and Kia Motors Corp., also saw its overseas sales improve 4 percent over the cited period to reach 80.4 trillion won, or 48.7 percent of its combined sales.

SK Group also saw its overseas revenue advance 1.6 percent over the cited period to 62.2 trillion won on the back of the improved returns from its chipmaker SK hynix Inc.

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