More Korean firms selling products on eBay, Taobao

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More Korean firms selling products on eBay, Taobao

Published: 05 Jun. 2017, 19:52

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