SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s consumer sentiment rose for a third consecutive month in February amid moderating inflation, a recovery in exports and hopes for an end to the Federal Reserve’s rate hikes, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 101.9 in February, up from 101.6 [...]
SEOUL, Feb. 13 (Korea Bizwire) — South Korea’s exports fell nearly 15 percent on-year in the first 10 days of February due mainly to fewer working days, but sales of semiconductors soared more than 40 percent, data showed Tuesday. Outbound shipments reached US$15.01 billion in the Feb. 1-10 period, compared with $17.57 billion tallied a [...]
WASHINGTON, Jan. 31 (Korea Bizwire) — An American industry group has called on the U.S. government to craft new multilateral chip equipment export controls, claiming the current strict unilateral ones put U.S. firms at a disadvantage over their rivals from South Korea and other countries. The Semiconductor Industry Association (SIA) made the call in their [...]
SEOUL, Dec. 6 (Korea Bizwire) – Concerns persist regarding the urea crisis, as Chinese authorities have imposed a blockade on urea exports to South Korea, with speculation that this situation may extend into the first quarter of next year. The sudden suspension of industrial urea clearance from China to South Korea has intensified the supply chain [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea and China agreed Monday to establish a bilateral dialogue mechanism on export controls and further activate a hotline for supply chains of major industry items, Seoul’s industry ministry said. The agreement was made during a meeting between South Korea’s Trade Minister Ahn Duk-geun and Wang Shouwen, China’s [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korea’s exports of dried laver, or “gim” in Korean, and cooked rice reached an all-time high during the first 10 months of this year on their brisk overseas demand along with the popularity of Korean culture and food, the customs agency said Wednesday. Outbound shipments of gim came [...]
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 [...]
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 [...]
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, [...]
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 [...]