SEOUL, April 3 (Korea Bizwire) – The Korea Institute of Finance suggested Sunday that drastically reducing household debt could shrink consumption, raising a dilemma for those crafting South Korean economic policy to combat the struggle to cope with soaring debt and waning domestic consumption. According to researcher Park Choon-sung in his report on household debt [...]
WASHINGTON, March 31 (Korea Bizwire) — U.S. President Donald Trump will sign an executive order directing a comprehensive review of major sources of trade deficits, officials said, as they named South Korea one of the 16 countries the U.S. runs large deficits with. The executive order calls for the Department of Commerce and the U.S. [...]
JEJU, March 31 (Korea Bizwire) – The Jeju provincial government said Friday it sent trade delegations to Taiwan, Hong Kong and Mongolia last week to sign deals for exports of local products worth several million U.S. dollars. Scores of companies based in the southern resort island of Jeju joined the delegations that visited the Asian [...]
SEOUL, March 23 (Korea Bizwire) – Cash-strapped North Korea is inviting foreign investment in a cruise program linking its eastern mountain resort area to the Russian Far East and Southeast Asia, a North Korean website showed Thursday. Its website promoting Mt. Kumgang recently posted an investment guideline for a ferry business based in the port [...]
SEOUL, March 21 (Korea Bizwire) – South Korean textile company Samil Spinning has acquired the American company Buhler Quality Yarns through a stock purchase agreement amid fears of trade protectionism in America, according to the Korea Trade-Investment Promotion Agency (KOTRA). Samil’s cunning move to take over all shares of Buhler Quality Yarns will see the [...]
SEOUL, March 22 (Korea Bizwire) – The latest report from the Economist Intelligence Unit, Worldwide Cost of Living 2017, labelled Seoul as the sixth most expensive city in the world in 2016 out of 133 major cities examined. The EIU compared prices of over 150 products and services, using New York as a base city [...]
SEOUL, March 22 (Korea Bizwire) – South Korea’s terms of trade deteriorated slightly in February from a year earlier as a rise in export prices was offset by a hike in import prices, central bank data showed Wednesday. The terms of trade index for products came to 100.48 last month, down 2.9 percent from a [...]
SEOUL, March 21 (Korea Bizwire) – Commodity prices continued to move up in recent weeks amid rising crude oil prices and the outbreak of the avian influenza, industry sources said Tuesday. Consumer prices rose 1.9 percent in February from a year earlier with comparable figures for January standing at 2 percent. The Bank of Korea [...]
GUMI, SOUTH KOREA, March 9 (Korea Bizwire) — The Gumi City government saw more than two hundred people apply for a number of public area cleaning job openings after it began taking applicants. Of the 239 candidates, nearly one hundred had a university degree or more while 131 were high school graduates. A mere 14 people [...]
SEOUL, March 7 (Korea Bizwire) – Import restrictions in the U.S. and China against South Korean products targeting steel, electronics and cosmetics are on the rise, the Korea International Trade Association said today. As of February, 23 restrictions are being imposed on Korean products exported into the US, and 13 in China. The number is up [...]