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 [...]
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 [...]