SEOUL, March 26 (Korea Bizwire) – The government will join hands with export-related agencies to provide “all-out” support to South Korean companies in export business, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy held a joint conference in Seoul with various export-related agencies, including the Korea Customs Service, the Korean Intellectual [...]
SEOUL, March 17 (Korea Bizwire) — As the global appetite for K-food continues to grow, South Korean food companies are accelerating their overseas expansion, aiming to reduce reliance on the domestic market and tap into high-growth international sectors. Among them, Samyang Foods has emerged as a standout, propelled by the overseas success of its Buldak [...]
SEOUL, March 6 (Korea Bizwire) — South Korea’s exports of food, led by instant noodles, grew an average of 8 percent annually over the past 10 years on the growing global popularity of K-culture, a business organization said Thursday. K-food shipments doubled to US$7.02 billion in 2024 from $3.51 billion in 2015, with instant noodles, [...]
SEOUL, Jan. 10 (Korea Bizwire) — South Korea’s exports in the nuclear energy sector reached a record high of 32 trillion won (US$21.9 billion) in 2023, data showed Friday. The figure represents a 26 percent increase from the 25.4 trillion won recorded in 2022, according to the Ministry of Trade, Industry and Energy. The Korea [...]
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 [...]