SEOUL, Dec. 31 (Korea Bizwire) — Imports of long-life sterilized milk into South Korea have surged over the past decade, even as overall milk consumption declines and domestic dairy producers struggle with high costs and shrinking demand. According to data from the Korea Customs Service, imports of sterilized milk rose more than tenfold, from about 4,000 [...]
SEOUL, Dec. 29 (Korea Bizwire) — Orion Corp., a South Korean food and health care company, said Monday it will invest 240 billion won (US$167 million) to expand its production facilities in Russia by 2027 to meet growing local demand for K-foods. Orion currently operates two plants in Russia — one in Tver and the [...]
SEOUL, Dec. 24 (Korea Bizwire) — South Korea will exempt a wider range of low-risk recyclable materials from mandatory import insurance requirements, a move aimed at securing recycling inputs and accelerating the country’s transition to a circular economy, the government said Monday. The Ministry of Climate, Energy and Environment announced that it will revise enforcement [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea’s used-car exports surged sharply this year, helping offset a slowdown in new vehicle shipments and preventing an overall decline in the country’s automotive exports, according to government and industry data released Sunday. From January through November, used-car exports reached $8.4 billion, up 82.6 percent from a year earlier, [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korea said Tuesday it will invest at least 4.5 trillion won (US$3.06 billion) to secure overseas logistics hubs as part of an effort to shore up exporters’ supply chains and reduce reliance on foreign-owned facilities. The Ministry of Oceans and Fisheries laid out the plan during a ministerial [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korea and the United Kingdom signed an upgraded free trade agreement aimed at easing rules of origin for Korean exporters and expanding access to Britain’s high-speed rail and digital services markets, Seoul’s trade ministry said Tuesday. The deal, signed in London by Korean Trade Minister Yeo Han-koo and [...]
SEOUL, Dec. 9 (Korea Bizwire) — The government plans to devise a customized strategy to address non-tariff trade barriers faced by South Korean food exporters, while establishing a dedicated help desk for the firms to navigate shifting trade dynamics, the agriculture ministry said Tuesday. The Ministry of Agriculture, Food and Rural Affairs unveiled the plan [...]
SEOUL, Dec. 8 (Korea Bizwire) — Chinese manufacturers have sustained a sweeping low-price export strategy for more than two years, intensifying competitive pressure on South Korean exporters across a range of sectors, a new study shows. According to a report released Sunday by Jih Man-soo, senior research fellow at the Korea Institute of Finance, Chinese export [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korea’s exports of dried seaweed, known as gim, surpassed $1 billion for the first time this year, buoyed by rising global demand and strengthened production capacity, the Ministry of Oceans and Fisheries said Sunday. As of Nov. 20, exports reached $1.015 billion, up 13.2 percent from a year earlier [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korea’s kimchi exports are expected to hit an all-time high this year amid rising global demand for Korean food, customs data showed Monday. Overseas sales of kimchi, a traditional Korean side dish typically made from cabbage, reached US$137.39 million in the first 10 months of 2025, up 2 [...]