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Top South Korean companies suffer Q3 sales drop

SEOUL -- Eight out of South Korea's top 10 companies reported a drop in revenue in the third quarter from a year ago, raising worries that the export-driven economy is losing steam due to sluggish demand in overseas markets.

Samsung Electronics' revenue fell 7.5% to 47.8 trillion won ($41.7 billion) while that of Hyundai Motor slipped 5.7% to 22.1 trillion won in the July-September period from the previous year. Samsung said it was hit by the termination of the production of its Galaxy Note 7 smartphones while Hyundai blamed poor sales on a three-month strike by workers at its plants over wages.

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