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SEOUL, Jan 2 Asia Pulse - Exports by small, independent exporters topped US$3 billion last year, the Korea International Trade Association (KITA) said Tuesday.
In its report, the KITA said exports of products from Tongdaemun (East Gate) Market in Seoul through these small vendors topped $1.9 billion last year, while those from Namdaemun (South Gate) Market accounted for $1.1 billion.
KITA sources said they were able to estimate the figure from the amount of foreign currency those vendors changed near the markets, calling $3 billion a reasonable estimate. They said the figure excludes foreign currency spent on lodging and boarding.
They said customs agencies and the maritime shipping industry estimate that some $1.34 billion worth of Korean products from small exporters were taken out of the country on ships, including $1.3 billion worth through Inchon port and $40 million worth of products which passed through ...