In the past six years, sales of Chinese companies have shrunk by 13%

South Korea ’s statistics show that sales in large companies in South Korea in China have shrunk by about 13%in the past six years. If the sales of Chinese enterprises have decreased by about 40%without battery and semiconductor companies.

According to the Yonhap News Agency, the Korean corporate data research institution "CEOSCORE" has statistics on the sales performance of 113 in the past six years in Chinese and Korean enterprises, and announced the statistical results on Wednesday (July 5).

The results showed that the total sales of Chinese companies last year were 111 trillion won (below, about S $ 114.9 billion), a decrease of 13.1%from 2016.Without calculating Korean batteries and semiconductor manufacturers, which have surged in China recently, the total sales of Chinese branches in South Korean companies have shrunk from 1.1723 trillion won in 2016 to 7.34485 trillion won in 2022, a decrease of 37.3%.

Analysis pointed out that China has affected the "restricted Korean" measures taken in South Korea on the operation of Chinese and Korean enterprises, plus the Sino -US trade friction, tight supply chain, and the Russian and Ukraine War.Continuously, it has dragged down the business of Korean companies to the Chinese market.

The survey shows that the largest decline in sales in Chinese and Korean enterprises is modern cars.Hyundai Motors' sales in Beijing have shrunk from 2.013 trillion won to 4.9 trillion won, a decrease of 75.7%.During the same period, Kia Branch, Jiangsu Yueda Kia Automobile's sales fell from 9.8 trillion won to 1.9 trillion won, a sharp decrease of 80.8%; Samsung Electronics was affected by the shrinking performance of the smartphone and home appliances department in China.The amount fell from 17.12 trillion won to 43.5%to 9.67 trillion won.

However, Korean batteries, semiconductor and other businesses show another scene in China.The three Korean battery giants -LG New Energy, Samsung SDI, and SK On business have grown rapidly in China.LG's new energy sales reached 1.285 trillion won last year, an increase of 431.6%over 2016; Samsung SDI sales were 5.42 trillion won, an increase of 483.5%from six years ago.2.09 trillion won.In terms of semiconductors, Samsung Electronics Semiconductor Xi'an and SK Hynix China Branch have increased sales of 133.1%and 151.5%in the past six years, respectively.