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S. Korea Allowed to Normalize Beef Exports to Hong Kong amid Disease Outbreak

S. Korea Allowed to Normalize Beef Exports to Hong Kong amid Disease Outbreak

SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s agricultural ministry said Tuesday it has won approval from Hong Kong to ship locally bred beef from all regions starting this week, despite a recent outbreak of lumpy skin disease (LSD). Following the country’s first-ever outbreak of LSD in late October, South Korea has been under a [...]

Kimchi Exports Surge to Record High Amid Global Popularity Boom

Kimchi Exports Surge to Record High Amid Global Popularity Boom

SEOUL, Nov. 1 (Korea Bizwire) – Kimchi exports from South Korea are experiencing a significant surge this year, poised to potentially reach a historic peak, according to industry observers.  The appeal of kimchi is growing in the United States and Europe, driven by its reputation as a “healthy” and “vegan” food, aligning with the global Hallyu [...]

Exports of Passenger Cars Up 16 Pct in Q3 on Eco-friendly Models

Exports of Passenger Cars Up 16 Pct in Q3 on Eco-friendly Models

SEOUL, Oct. 30 (Korea Bizwire) — Exports of passenger cars moved up 16 percent in the third quarter of 2023 from a year earlier following robust demand for eco-friendly models, data showed Monday. South Korean carmakers shipped US$14.6 billion worth of passenger cars over the July-September period, rising from $12.6 billion tallied a year earlier, [...]

S. Korea Goes All-out to Support EV, Battery Sectors for Export Growth

S. Korea Goes All-out to Support EV, Battery Sectors for Export Growth

SEOUL, Oct. 5 (Korea Bizwire) — South Korea will extend support for electric vehicles (EVs), secondary batteries and other major industry fields in an effort to boost exports amid signs of a turnaround after a yearlong downturn, the industry ministry said Thursday. The Ministry of Trade, Industry and Energy held a meeting with relevant ministries [...]

S. Korea’s ICT Exports Fall for 14th Straight Month in August

S. Korea’s ICT Exports Fall for 14th Straight Month in August

SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s exports of information and communication technology (ICT) products extended their losing streak to 14 months in August but fell at the slowest clip in about 10 months, government data showed Thursday. Outbound shipments of ICT products came to US$16.1 billion last month, down 16.7 percent from $14.6 [...]

S. Korea to Boost ‘Gim’ Exports through Quality Improvement, New Products

S. Korea to Boost ‘Gim’ Exports through Quality Improvement, New Products

SEOUL, Sept. 11 (Korea Bizwire) — South Korea will develop quality seeds of gim, or dried laver, and extend support for its exports with a goal to achieve its global sales of US$1 billion by 2027, the oceans ministry said Monday. It is part of the government’s comprehensive five-year plan to promote the gim industry, [...]

S. Korea Urges U.S. to Resolve Legal Issue on Nuclear Reactor Export to Czech Republic

S. Korea Urges U.S. to Resolve Legal Issue on Nuclear Reactor Export to Czech Republic

SEOUL, April 28 (Korea Bizwire) — South Korea has called on the United States to make joint efforts to resolve a legal dispute between their companies over Seoul’s potential nuclear reactor exports to the Czech Republic and other nations, the industry ministry said Friday. Industry Ministry Lee Chang-yang made the request during a meeting with [...]

S. Korea Puts Japan Back on Export ‘White List’ After 3 Years

S. Korea Puts Japan Back on Export ‘White List’ After 3 Years

SEOUL, April 24 (Korea Bizwire) — South Korea on Monday put Japan back on its “white list” of trusted trading partners, three years after the removal, in a move to improve their bilateral economic and diplomatic relationship, the industry ministry said. The Ministry of Trade, Industry and Energy issued a revision to its public notice [...]

Demographic Changes Might Lead to a Slowdown in Job Growth and Potential Growth Rate

Demographic Changes Might Lead to a Slowdown in Job Growth and Potential Growth Rate

SEOUL, March 7 (Korea Bizwire) – Korea faces a slowdown in job growth due to changes in its demographic structure, which will reduce the country’s potential growth rate in the coming years. According to Park Yang-soo, head of the Bank of Korea’s Economic Research Institute, the average annual increase in the number of employed people [...]