Foreign companies in S. Korea post solid gains in 2007: report

SEOUL, April 13 (Yonhap) -- Foreign companies operating in South Korea posted
solid gains in sales and exports in 2007, a government report said Monday.

The report by the Ministry of Knowledge Economy said the aggregate sales of
foreign invested businesses totaled 181 trillion won (US$135 billion) in 2007,
from 166 trillion won tallied for the year before.
Of the total, sales of manufactured products reached 124 trillion won, followed
by 53 trillion won for the service-related goods and 4 trillion for miscellaneous
items.
The findings also showed exports of products made by these companies reached
US$54.3 billion in the cited year, from $33.7 billion tallied for 2006.
The total outbound shipments accounted for 15.6 percent of South Korea's exports
in the cited year, up from 11.7 percent in 2006.
The ministry in charge of the country's industrial policies and investment
promotion, said the number of workers employed by these companies moved up to
267,000 compared to 253,000 the previous year, indicating that foreign companies
contributed to hiring, vital for national growth.
The report, meanwhile, showed the research and development (R&D) expenditure of
companies with signficant foreign investment reached 1.6 trillion won. This is
equivalent to 7.3 percent of all R&D expenditure in 2007.
yonngong@yna.co.kr
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