Samsung Electronics has become the first Korean company to surpass US$110 billion in annual exports. The company alone accounted for one sixth of Korea's estimated total exports of US$636.2 billion (757 trillion won) for 2021. The figure surpasses all exports of Korea’s small and medium-sized enterprises (US$105.2 billion by November).

Samsung Electronics will receive the US$110 Billion Export Tower Prize in a Trade Day celebration event held at COEX in Seoul on Dec. 6.

Analysts say that Samsung Electronics could surpass US$110 billion in exports on the back of the solid performances of its major businesses, including foundry, smartphones, and home appliances.

The company could maintain the global top position in terms of smartphone shipment in 2021 by creating foldable smartphones. Its sales performance improved significantly in the home appliance market thanks to the popularity of its premium brand “Bespoke.”