Chinese-made toy imports rise 12 pct in Jan.-Oct. period

SEOUL-- South Korea's toy imports from China rose 12 percent this year, largely under an original equipment manufacturing (OEM) agreement, the customs office said Sunday.

The figure was estimated at US$645 million in the first 10 months of 2017, accounting for 73 percent of the nation's toy imports, the Korea Customs Service (KCS) said in a statement.

It marked a 12 percent increase from the same period of 2016 and two times the volume of 2013.

The expansion is largely attributed to Korean firms' increasing OEM deals with Chinese manufacturers aimed at taking advantage of low labor costs.

Source: Yonhap News Agency

You may also like...