SEJONG, Aug. 7 (Korea Bizwire) — Japan did not unveil additional goods on Wednesday to be subject to tougher regulations when shipped to South Korea, but made it clear that it would implement export-related regulations “strictly,” Seoul’s trade ministry said. Seoul has been worrying that Tokyo may include more goods on the list of strictly [...]
SEOUL, Aug. 6 (Korea Bizwire) — Japan is expected this week to unveil goods that will be subject to stricter regulations when exported to South Korea in addition to three key materials crucial to the production of chips and display panels, government sources here said Tuesday. Last week, Tokyo removed South Korea from the so-called [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea said Monday it will spend 7.8 trillion won (US$6.47 billion) over the next five years to nurture its materials, parts and equipment sectors and trim its dependence on Japanese imports in the latest move to cope with the neighbor’s economic retaliation. The move to boost R&D for [...]
SEOUL, Aug. 2 (Korea Bizwire) — Calls for a boycott of Japan-made goods in South Korea are expected to come to a boil as Tokyo went ahead with its threat to widen controls over exports of materials by removing Seoul from a list of trusted trade partners despite repeated calls to scrap the move. A [...]
SEOUL, Jul. 24 (Korea Bizwire) — K-pop boy band BTS’ fan meetings and concerts in South Korea last month created an economic effect worth nearly 500 billion won (US$424.2 million), an academic report showed Wednesday. According to the report by a research team led by Pyun Ju-hyun, a business professor at Seoul’s Korea University, BTS [...]
SEOUL, Jul. 21 (Korea Bizwire) — South Korea will step up its efforts this week to fend off a move by Japan to impose additional trade restrictions against Seoul, according to government officials on Sunday, amid a growing trade dispute that could also disrupt global supplies of semiconductors and smartphones. Diplomatic and economic tensions are [...]
SEJONG, Jul. 10 (Korea Bizwire) — Global rating agency Standard & Poor’s has sharply slashed its growth forecast for South Korea’s economy this year to 2 percent due to rising uncertainty about the global trade outlook and weaker consumption. The latest estimate represented a sharp downward revision from its previous forecast of 2.4 percent in [...]
SEOUL, Jul. 10 (Korea Bizwire) — Japan’s tighter regulations on some high-tech exports to South Korea will serve as a new downside risk to Asia’s fourth-largest economy, which is already struggling with a U.S.-China trade war, economists said Wednesday. In a seminar on the impact of Japan’s trade curbs, Kwon Tae-shin, president of the Korea [...]
SEOUL, Jun. 23 (Korea Bizwire) — South Korea’s finance ministry is expected to slightly cut its growth estimate for the year in the face of a delayed recovery in chip prices and the escalating trade dispute between the United States and China, sources said Sunday. The South Korean government has been adhering to the stance [...]
SEOUL, Jun. 9 (Korea Bizwire) — South Korea’s economy is positioned to face heightened downside risks as the trade dispute between the United States and China escalates, hurting global trade and manufacturing activity, a senior presidential secretary said Sunday. “I think we cannot rule out the possibility of the downside risks being drawn out as [...]