More Korean firms selling products on eBay, Taobao

More than 2,000 Korean companies sell their products on online shopping sites eBay and Taobao as they look overseas for growth, the government agency in charge of small and medium-size enterprises (SMEs) said Monday.

The Small and Medium Business Administration (SMBA) said it signed a contract with a local online shopping company in 2014 to help the country’s SMEs sell their products on eBay and Taobao. The SMBA expected there would be growing demand for price-competitive and quality products manufactured by Korean SMEs in global markets once they are exposed to overseas customers.

Last year, a total of 2,036 Korean SMEs sold 44.3 billion won ($40 million) worth of products through the U.S. and Chinese online shopping sites, according to the SMBA.

Yonhap