BEIJING: China accounts for a growing proportion of total sales at Korean businesses each year. Industry tracker CEO Score analyzed 70 of Korea’s top 500 companies that revealed sales generated in China and found that 18 percent or W86.5 trillion of their cumulative revenues (W477.38 trillion) from January to March of this year came from China (US$1=W1,144), the tracker said on Wednesday. The figure was 16.7 percent in 2014 and 17 percent in 2015. At 10 of the companies income from China accounted for 30 percent of total sales. LG Display had the highest proportion at a whopping 68.6 percent.
Among Korean cosmetics companies, which are feeling the brunt of Chinese economic pressure over the stationing of a Terminal High-Altitude Area Defense battery from the U.S. here, China accounted for 19 percent of total revenues at Amore Pacific and six percent at LG Household and Health Care. At Lotte Group, which has been a main target of Beijing’s wrath, China in fact accounted for only five percent of total revenues at Lotte Chemical and Lotte Shopping, three percent at Lotte Chilsung Beverage and two percent at Lotte Confectionery.
