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. 23 (Korea Bizwire) — South Korea’s manufacturing and export sectors, the backbone of its economy, are bracing for significant challenges in early 2025 due to rising global trade tensions and domestic political instability. Concerns are growing over protectionist policies from major economies, particularly under the incoming Trump administration, and a leadership void in [...]
SEOUL, Dec. 19 (Korea Bizwire) – Nearly one-third of South Korea’s small and medium-sized exporters report being negatively impacted by the country’s ongoing political turmoil, according to a survey conducted by the Korea Federation of SMEs. The survey, conducted from December 10 to 13 among 513 exporting SMEs, revealed that 26.3% of respondents had experienced [...]
SEOUL, Dec. 17 (Korea Bizwire) — Growth projections for South Korea’s export-dependent economy in 2024 have been revised downward, despite robust semiconductor exports, reflecting slower-than-expected recovery in domestic demand amid high interest rates and lingering effects of the COVID-19 pandemic. Earlier in the year, both the South Korean government and major international financial organizations projected [...]
SEOUL, Dec. 17 (Korea Bizwire) – South Korea’s Ministry of Land, Infrastructure and Transport announced on December 16 that the nation’s drone exports reached 23.2 billion won this year, marking a 62% increase from last year. Drone aircraft dominated exports at 71%, followed by services and software at 16%, and hardware components at 13%. The ministry [...]
SEOUL, Dec. 13 (Korea Bizwire) – A new analysis has revealed that Japan stands as South Korea’s strongest competitor in global exports, with the two countries sharing nine out of their top 10 export items. According to a report titled “Analysis of Global Competition Trends in Top 10 Export Items” released by the Korea Trade-Investment Promotion [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korea’s exports of cosmetic products reached an all-time high of US$9.3 billion through November this year in an estimate, the country’s drug safety agency said Monday. The combined exports of cosmetic products for the January-November period exceeded the previous yearly high of $9.2 billion recorded in 2021, according [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s exports of dried seaweed products have already reached a new annual high this year, driven by growing global demand for healthier foodstuffs, data showed Tuesday. Outbound shipments of dried seaweed, called “gim” in Korean, reached US$850 million during the January-October period, already surpassing the previous annual record [...]
SEOUL, Nov. 7 (Korea Bizwire) – The global automotive industry faces significant changes and uncertainties following Donald Trump’s election as the 47th president of the United States on November 6. Hyundai Motor Group, which has relied heavily on U.S. exports for its performance, is particularly on alert as Trump has promised to prioritize domestic industries, strengthen [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s dental implant exports have reached a historic milestone, surpassing $650 million this year, according to data released by the Korea Customs Service on October 30. Export figures for the January-September period reached $653 million, marking a 17.4% increase compared to the same period last year and setting a [...]