President Lee: Small Business Exports Reach Record High

President Lee Jae-myung stated on October 26 that small business exports have achieved the highest performance for the same period in history. He emphasized, "The growth of small businesses will boost our economy, leading to 'growth for all' that makes life warmer for everyone."

In a post on X (formerly Twitter), President Lee praised small businesses for their new achievements in the global market. He noted that small business exports reached $33.4 billion in the third quarter, with a cumulative total of $96.5 billion from January to September, both marking record highs for the same period.

He particularly highlighted the expansion of the cosmetics export market, stating, "K-Beauty is broadening its exports beyond North America and Europe into emerging markets like Latin America, enhancing its competitiveness in the global market."

President Lee expressed gratitude and encouragement to those in the cosmetics industry who have fostered K-Beauty's potential in the global market, as well as to the public officials who have supported them.

According to the Ministry of SMEs and Startups, small business exports in the third quarter of 2026 increased by 8.8% compared to the same period last year. The cumulative exports from January to September also rose by 9.5%. The number of exporting small businesses reached 90,765, a 1.6% increase, marking the highest figure on record.

In the third quarter, cosmetics exports amounted to $2.79 billion, a 28.6% increase from the previous year. Exports have also risen in the Latin American market, diversifying the market. Semiconductor exports reached $1.39 billion, a 68.8% increase, setting a record for the third quarter.