SEOUL, Sept. 23 (Korea Bizwire) – South Korean companies’ exports of mobile handsets, including smartphones, to China dropped by more than 27 percent in the first eight months of the year from a year earlier amid the rising presence of Chinese rivals there, a report said Friday. According to the Institute for Information & Communications [...]
SEJONG, Sept. 13 (Korea Bizwire) – South Korea’s car exports shrank to a seven-year low in August due mainly to contracted global demand and partial strikes at local carmakers, the government said Tuesday. Outbound shipments of vehicles came to 142,987 units last month, down 18.6 percent from 175,610 units tallied a year earlier, according to [...]
SEJONG, Sept. 6 (Korea Bizwire) – Outbound shipments of South Korean beer hit a record high last year on the back of its popularity in Asian and other countries, government data showed Tuesday. The data compiled by the Korea Customs Service showed that exports of South Korean beer reached US$84.4 million in 2015, up 15.4 [...]
SEOUL, Sept. 5 (Korea Bizwire) – South Korea’s exports of clean, renewable energy products have sharply increased from a year earlier in the first seven months of the year, the trade ministry said Monday, indicating improving competitiveness of South Korean products. Outbound shipments of solar panels and other related equipment came to US$2.01 billion in [...]
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, [...]