SEOUL, Aug. 25 (Korea Bizwire) – South Korea’s exports to Vietnam have spiked over 10 percent so far this year, making it the world’s third-largest importer of South Korean goods, data showed Thursday. In the January-July period, shipments to Vietnam jumped 10.1 percent on-year to US$18.02 billion, according to the data from the Korea International [...]
BUSAN, Aug. 11 (Korea Bizwire) – With the average legal-aged Korean consuming 90 bottles a year, soju is undoubtedly the most popular distilled alcoholic beverage in Korea. Virtually unknown abroad, the drink’s popularity has recently begun to pick up momentum overseas. Busan-based distiller Daesun is better known for its soju brand C1. According to Daesun, [...]
SEOUL, Aug. 9 (Korea Bizwire) – The Korean won has gained strength in recent months but not everyone is happy about the currency’s surge in value, especially Korean businesses that rely heavily on exports. A recent report authored by senior researcher Lee Chang-sun at the LG Economic Research Institute noted that “the strengthening Korean won [...]
SEJONG, Aug. 3 (Korea Bizwire) – South Koreans’ direct purchases from foreign countries edged up in the second quarter of this year, with online purchases of Korean products by overseas shoppers nearly doubling, government data showed Wednesday. Koreans’ direct purchases of foreign goods via overseas online shopping malls reached 411.8 billion won (US$369.3 million) during [...]
SEOUL, Aug. 1 (Korea Bizwire) – The American dollar has regained some strength in the second quarter, and according to industry analysts, companies producing chemicals and raw materials for the pharmaceutical industry were among those who reaped the most benefits from the dollar’s appreciation. Korea is a heavily export-reliant country with over 50 percent of [...]
SEJONG, Aug. 1 (Korea Bizwire) – South Korea’s exports fell by more than 10 percent in July, with the rate of decline returning to double digits after single digits in May and June, the trade ministry said Monday. Outbound shipments came to US$41 billion last month, down 10.2 percent from the same month last year, [...]
SEOUL, July 27 (Korea Bizwire) – ZAIGLE is a Korean household appliances maker best known for its BBQ grill of the same name. The uniquely-shaped cooking appliance has helped propel the venture company to surpass 100 billion won in annual revenue just seven years after the company’s launch. “We’ll strengthen our offline distribution in Korea [...]
SEOUL, July 26 (Korea Bizwire) – South Korean food companies are set to begin official sales of the traditional chicken soup to China as the first shipments to the mainland have recently cleared customs, industry officials said Tuesday. Samgyetang is a traditional chicken soup made with a whole young chicken stuffed with ginseng, sticky rice [...]
SEOUL, Jul. 25 (Korea Bizwire) — South Korea’s finance minister on Sunday said the country’s exports are anticipated to rebound in August, although uncertainties still remain after Britain’s exit from the European Union. “(The recovery) may come in August,” Finance Minister Yoo Il-ho said in a meeting with Korean reporters during his visit to China [...]
SEOUL, July 15 (Korea Bizwire) – The Ministry of Agriculture, Food and Rural Affairs (MAFRA) of Korea announced on July 14 that it would discuss export growth plans for agricultural food products during the ‘Ninth Public-Private Joint Conference on Agricultural Food Product Export Expansion’, which will take place on July 15 at the Korea Federation of [...]