Exports by South Korea's venture startups hit a record high of 19-point-eight billion dollars last year.

The Korea International Trade Association said Friday that this is up nine-point-nine percent from 2016 and largely boosted by surging shipments of instrumentation and control devices and semiconductor production equipment.

Venture startups refer to the group of small and medium-sized firms which have been recognized by the government for their promising technology and growth potential and awarded financial support and tax benefits.

By country, shipments to China, Vietnam and the U.S. took up the largest amount.