SEOUL, Nov. 22 (Korea Bizwire) — South Korean manufacturers have been shifting the focus of their overseas direct investment to Vietnam from China thanks to tax benefits, cheaper labor and other favorable conditions, a report said Thursday. Vietnam accounted for 17.7 percent of South Korean manufacturing companies’ total direct overseas investment in 2017, up sharply [...]
SEOUL, Nov. 19 (Korea Bizwire) — With foreign-made cell phones making their way into the domestic market, members of the public and critics alike are wondering if these phones will be able to find a place in a market dominated by Korean-made devices. While the infiltration of Chinese-made phones is conspicuous, Xiaomi Corp.’s advancement into [...]
SEOUL, Nov. 15 (Korea Bizwire) — The world’s leading bicycle sharing platform, ofo of China, has discontinued its service in Busan after less than a year in operation. According to ofo Korea, the company sent an email to its subscribers informing them that the company would be no longer offering its services due to extenuating [...]
SEOUL/BEIJING, Nov. 15 (Korea Bizwire) — Ctrip, a leading travel agency in China, has deleted tour programs to South Korea, its website showed Thursday, in what could be a sign of a lingering row between the two neighbors over a U.S. missile defense system. The deletion came just hours after the company restarted online marketing [...]
BEIJING, Nov. 14 (Korea Bizwire) — China lifted a ban on the online sale of group tour programs to South Korea on Wednesday imposed in retaliation for the deployment of an advanced U.S. missile defense system on the peninsula. Ctrip, a leading travel agency in China, decided to restart the online marketing of related products [...]
SEOUL, Nov. 12 (Korea Bizwire) — The Korean Customs Service (KCS) has launched a crackdown on illegal imports and the resale of imported products until November 28 as transactions via foreign direct purchasing are expected to jump due to China’s annual Singles Day. The KCS will be focusing on the act of reselling products acquired [...]
SEOUL, Nov. 9 (Korea Bizwire) – The Korea Customs Service and Korea Post announced yesterday that they will be cracking down on “fake” branded goods produced in China from November 11 to 30. The crackdown is in response to the worry that a significant number of fake products will infiltrate the nation during Singles’ Day, [...]
BEIJING, Nov. 8 (Korea Bizwire) — A senior Djibouti government official dismissed the accusation that the African country was “illegally induced” by a Chinese company to breach a contract with another foreign investor, stressing that Chinese investment is legitimate and helps build a foundation for its economic development. The remarks were made by Aboubaker Omar [...]
SEOUL, Nov. 8 (Korea Bizwire) — Popular South Korean food products are gaining ground in the Chinese online food market. Online direct purchasing, where customers buy products directly from sellers rather than through agents, is becoming extremely popular among Chinese consumers interested in Korean food products. The Korea Agro-Fisheries and Food Trade Corp. (aT) announced [...]
SEOUL, Nov. 6 (Korea Bizwire) — The Chinese government has revealed plans to construct a high-speed railway that will connect Mount Paektu in North Korea with China’s Liaoning Province at a cost of approximately 1.7 trillion won. A Chinese government website, posted an announcement on the construction of the high-speed railway connecting Baihe County situated [...]