SEOUL, Sept. 26 (Korea Bizwire) — New Industry Minister Bang Moo-kyu visited a factory of Hyundai Motor Co. on Tuesday and vowed extended support for the electric vehicle (EV) sector to boost the country’s exports and the overall economic growth, his office said. Bang, who took office last week, launched a government delegation to be [...]
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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jan. 26 (Korea Bizwire) — POSCO Chemical Co., a major South Korean producer of secondary battery materials, said Thursday it has obtained government approval for the export of its technologies related to producing cathodes, a key component used in electric vehicle (EV) cells. The decision was made earlier this month by the private-public committee [...]
SEOUL, April 26 (Korea Bizwire) — South Korean refiners posted the biggest quarterly growth in exports of their petroleum products in the first quarter from a year earlier, driven by robust fuel demand and rising oil prices amid eased COVID-19 border controls, a report showed Tuesday. The combined outbound shipments of petroleum products by SK [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korea on Tuesday signed a contract to sell K9 self-propelled howitzers to Egypt in a deal worth over 2 trillion won (US$1.65 billion), Seoul’s arms procurement agency said, marking the artillery system’s first entry into the African market. Hanwha Defense, the South Korean manufacturer, and Egypt’s defense ministry [...]
SEOUL, May 16 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Sunday it has signed a deal with the Democratic Republic of Congo to export 500 Palisade sport utility vehicles as part of its export diversification strategy. Of the 500 Palisades, Hyundai shipped 250 units to the African country on Saturday, with [...]