SEOUL, Jan. 22 (Korea Bizwire) — A surge in Chinese exports is stoking tensions across the global industrial landscape, as countries worldwide grapple with an influx of low-priced Chinese goods that many say is disrupting their domestic markets. China’s customs authority reported that exports reached a record 25.5 trillion yuan in 2024, jumping more than 7% [...]
SEJONG, Jan. 15 (Korea Bizwire) — Container shipping costs from South Korea to China decreased in December compared with a month earlier, reversing the upward trend, the customs agency said Wednesday. The average shipping cost for a 40-foot container from South Korea to China fell 1.1 percent from a month earlier to 8 million won [...]
SEJONG, Jan. 13 (Korea Bizwire) — South Korea’s export landscape with China has undergone a significant transformation over the past decade, with traditional intermediate goods exports such as displays, computers, auto parts, steel sheets, and petroleum products sharply declining. Conversely, South Korea’s imports of Chinese intermediate goods, particularly battery materials, batteries, and auto parts, have [...]
SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by BYD, are intensifying efforts to enter the South Korean market in 2025, raising questions about their strategic motivations. Analysts suggest this move addresses China’s domestic overproduction while positioning South Korea as a testing ground for expansion into advanced markets. Industry insiders speculate [...]
JEJU, South Korea, Jan. 10 (Korea Bizwire) — A Chinese tourist has been apprehended for illegally filming Jeju International Airport on the southern Jeju Island, classified as a top-level national security facility, with a drone, police said Friday. The Jeju Provincial Police Agency said it was investigating the Chinese national, whose identity was withheld, on [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea’s share of the global shipbuilding market fell to its lowest level in eight years in 2024, despite an increase in total orders, according to a report by UK-based Clarkson Research on January 8. Market Dynamics South Korea secured 10.98 million CGT (compensated gross tons) in orders, representing [...]
SEJONG, Jan. 6 (Korea Bizwire) — South Korea’s semiconductor export landscape has undergone a significant transformation in recent years, with reliance on China decreasing and exports to countries like Taiwan, the United States, and Vietnam increasing. Experts attribute the shift to global market dynamics driven by the U.S.-China semiconductor rivalry, the surge in demand for [...]
SEOUL, Dec. 24 (Korea Bizwire) — A recent Bank of Korea survey reveals that one in three major South Korean export companies anticipates a decrease in exports next year, citing intensifying competition from China and potential impacts from a second Trump administration among key concerns. According to the central bank’s regional economic report released on December [...]
SEOUL, Dec. 19 (Korea Bizwire) — Samyang Foods Inc., famous for its Buldak spicy ramen, said Thursday it will invest 201.4 billion won (US$139 million) to build its first overseas plant in China by early 2027 to meet the growing local demand for its products. Samyang plans to establish a subsidiary in Singapore in the [...]
SEJONG, Dec. 16 (Korea Bizwire) – Container shipping costs from South Korea to China rose in November, reversing the decline recorded the previous month, the customs agency said Monday. The average shipping cost for a 40-foot container from South Korea to China climbed 14.4 percent from a month earlier to 839,000 won (US$583.93) in November, according to [...]