Business · Economy · 2 hrs ago
South Korean small-business exports hit a third-quarter record as factory output fell
South Korean small-business exports reached a third-quarter record, rising 8.8% from a year earlier to $33.43 billion.
Cosmetics exports grew 28.6% and semiconductor exports rose 68.8%, offsetting a sharp drop in car exports.
That export growth did not lift manufacturing, whose output fell 4% in August after rising in June and July.
Service-sector output increased 2.2%, while the number of new businesses fell 9.5% from a year earlier.
Job growth among small businesses slowed in September to 69,000, about half the increase recorded the month before.
Most of the job gains were at businesses with one to four workers, while employment fell at businesses with five to 299 workers.
The recovery is uneven across industries, and higher costs and interest rates are adding to small firms’ financial pressure.
South Korean small-business exports reached a record for the third quarter, rising 8.8% year on year to $33.43 billion.
The increase was led by exports of semiconductors and cosmetics, while automobile exports fell.
Small-business manufacturing output fell 4.0% year on year in August after growing in June and July.
Employment at businesses with fewer than 300 workers rose in September, but the increase was smaller than in August.
A report said the figures showed uneven recovery across industries, with manufacturing and employment weakening despite stronger exports and service output.
- Who
- South Korean small businesses.
- What
- Third-quarter exports reached a record, while manufacturing output declined and employment growth slowed.
- When
- Exports were measured for the third quarter of 2026; manufacturing output was measured in August and employment in September.
- Where
- South Korea.
- Why
- Cosmetics and semiconductor exports lifted the export total, but the report said manufacturing and employment remained weak. It also cited higher costs and interest rates as financial pressures.
This story does not have two clearly opposing sides.
Small-business manufacturing output grew 3.6% year on year.
Small-business manufacturing output grew 1.1% year on year.
Small-business manufacturing output fell 4.0% year on year.
Small-business exports rose 8.8% year on year to $33.43 billion.
Employment at businesses with fewer than 300 workers rose by 69,000 year on year, down from an increase of 129,000 in August.
The Korea SMEs and Startups Institute published its October report on small-business trends.
- Third-quarter exports
- $33.43 billion, up 8.8% year on year
- Cosmetics exports
- Up 28.6%
- Semiconductor exports
- Up 68.8%
- August manufacturing output
- Down 4.0% year on year
- September employment
- 25.819 million at businesses with fewer than 300 workers
- August start-ups
- 81,171, down 9.5% year on year