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Air, Maritime Shipping Costs Hit Record Highs amid Pandemic

Air, Maritime Shipping Costs Hit Record Highs amid Pandemic

SEOUL, Oct. 10 (Korea Bizwire) — The costs of air and maritime cargo shipping surged to their all-time highs in South Korea, as logistics giants reduced their international schedules amid the COVID-19 pandemic, industry data showed Sunday. The average air freight rate from the benchmark Hong Kong-United States routine stood at US$9.74 per kilogram as [...]

S. Korean Economy Faces Heightened Uncertainty amid 4th Wave of Pandemic

S. Korean Economy Faces Heightened Uncertainty amid 4th Wave of Pandemic

SEOUL, Aug. 8 (Korea Bizwire) — The South Korean economy is facing heightened uncertainty as the recovery of domestic demand is likely to slow amid a recent spike in COVID-19 cases, a state-run think tank said Sunday. Asia’s fourth-largest economy is on a recovery track amid solid exports, but the toughest-ever virus curbs, in effect [...]