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Large number of small clothing and cosmetic firms in Korea rely on China exports Updated: 2017-03-13 09:26:40 KST

Small and medium-sized enterprises are expected to feel the impact of China's unofficial sanctions on Korean goods and services.
According to the Korea Customs Service, Korean SMEs exported 22.5 billion U.S. dollars worth of goods to China last year, an increase of 1.9 percent from the year before.
Korean SMEs that produce clothing and cosmetics heavily dependent on China, with nearly 82 percent of SMEs' clothing exports and 69.three percent of their cosmetics bound for China last year.
The same goes for smaller firms that produce agricultural and household products, with more than 60 percent of their goods heading to the Chinese market.
To reduce the high dependency, the Small and Medium Business Administration said it will help SMEs expand to other markets in Southeast Asia, the Middle East and Africa.

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