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Top 100 businesses in Busan post 'solid growth'

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A recent report has shown that the top 100 businesses in Busan have been showing consistent growth through increase in sales and operating profits. These companies have outperformed the nation's top 100 businesses within the last five years.

The 100 Busan-based businesses posted sharp growth in steel and metal, automobile, shipbuilding, harbor and logistics sectors. However, there was negative growth in the shoes, chemicals and electronics sectors. This is based on the report, "An Analysis of the Busan-Based Top 100 Businesses and Its Implications."

The report is from the Busan Development Institute. The institute conducted the analysis to find the right policy directions for the local economy through an analysis of the performances of Busan's top 100 businesses and trends in each sector.

The analysis said the 100 businesses posted a 63.9 percent increase in sales from 2001 to 2006, which is better than the 33.1 percent earned by the top 100 businesses across the nation. It translates into an increase from 15.7715 trillion won ($17.19 billion) in 2001 to 25.8493 trillion won ($28.2 billion) in 2006.

In operating profit, the businesses posted 7 percent in 2005 and 7.6 percent in 2006, which are higher than the national level. In addition, the number of the businesses, which generate more than 10-percent operating profit, increased from 14 in 2001 to 27 in 2005.

The source of news : Dynamic Busan