SK Group, South Korea's third-largest conglomerate, saw its overseas sales exceed domestic sales in the first half on the back of the brisk performance of its semiconductor and chemical businesses, company officials said Thursday.
Companies affiliated with SK Group booked combined sales of 54.73 trillion won ($49.09 billion) in the first six months of the year, with overseas sales accounting for 51.8 percent, its regulatory filings showed.
Its exports have beaten domestic sales since 2013, accounting for about 10 percent of the nation's total exports, officials noted.
SK Group expected its overseas performance will improve as its two major exporters -- oil refiner SK Innovation and chipmaker SK hynix -- are poised to post better earnings in the third quarter.
Analysts are positive about SK hynix's upcoming earnings as chip prices have rebounded since last month and demand for new smartphones is still high in the autumn season.
SK Innovation also expects more earnings from its refining business, while pushing for acquisitions in China to expand its presence in the key market.
"Although the overseas business environment is not favorable due to the global economic slowdown, we are focusing on improving competitiveness to expand exports," said Lee Man-woo, SK Group's vice president. (Yonhap)
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