According to Yonhap News,

Business performance in Gwangju and South Jeolla Province(Jeonnam) improved in 2010 thanks to economic recovery home and abroad.

The Bank of Korea released its 2010 analysis on business performance, the result of the survey on 636 companies in Gwangju and Jeonnam with annual sales of over kRW 2 billion.

The survey shows that sales rose 20.4% year-on-year on the back of increased exports.

Total and tangible assets rose by 12.9% and 8.0% compared to the end of last year, respectively.

Operating profit to sales ratios and net income to sales ratios before tax were 8.0%, and 8.7%, respectively.

Debt ratios improved from 96.5% to 91.7%, but dependence on loans shot up from 20.7% to 23.6% due to massive investment in oil refinery industries.

By industries, sales of electronic parts(62.7%), rubber and plastics(37.1%), automobiles(27.5%), oil refinery(26.2%) soared, but sales of the construction industry declined by 22.1%.

Sales increase and total assets increase in Gwangju and Jeonnam were above the national average.

Source Text

Source: Yonhap News(August 2, 2011)

** This is an English translation of a Korean news article