SEOUL, Oct. 26 (Korea Bizwire) — Exports of oil and related goods by South Korean refiners reached an all-time high in the first nine months of the year on firm demand and higher oil prices, industry data showed Thursday. According to the data compiled by the Korea Petroleum Association, oil and petrochemical goods exported by [...]
SEJONG, Sept. 12 (Korea Bizwire) — South Korea said Tuesday that it aims to export more than US$1 billion worth of seaweed products annually by 2024 as part of its effort to diversify its overseas shipment portfolio. According to the report submitted to the Cabinet, the Ministry of Oceans and Fisheries said the country is [...]
SEJONG, Sept. 6 (Korea Bizwire) – South Korea plans to give rice to developing nations after it joins an international food assistance convention as part of its ambition to stabilize the local rice supply and help the needy around the world, the farm ministry said Wednesday. The Ministry of Agriculture, Food and Rural Affairs said it is preparing steps [...]
SEOUL, Aug. 2 (Yonhap) — South Korean companies face some 190 import tariff restrictions in 28 countries, with emerging markets accounting for over 70 percent of the barriers, a local trade promotion agency said Wednesday. As of June, Korean firms were involved in 154 antidumping and countervailing duty actions and 36 safeguard tariffs imposed by [...]
SEOUL, May 4 (Korea Bizwire) – The United States ranked as the fourth-largest overseas market for South Korean cosmetic products in the first quarter of 2017 despite concerns of protectionism, a trade association said Thursday. In the January-March period, South Korean companies trailed French, Canadian and Chinese firms in terms of makeup products shipped to [...]
SEOUL, March 20 (Korea Bizwire) – While Lotte is suffering the most from China’s retaliatory measures over South Korea’s deployment of a THAAD missle system – with almost 90 of 99 Lotte Mart outlets in China temporarily closed – other firms exporting to the country are struggling with customs clearance procedures that have become overly [...]
JINJU, South Korea, March 17 (Korea Bizwire) – The Foundation of Agricultural Technology Commercialization & Transfer (FACT) is testing a self-developed shipping container maintenance technology that allows for the export of fresh agricultural produce via container ships. According to officials, 614 kilograms of strawberries from Jinju, South Gyeongsang Province, are being shipped off to Singapore [...]
SEOUL, March 2 (Korea Bizwire) – The collapse of Hanjin Shipping Co. is expected to push up shipping costs of local exporters, and thus undermine their competitiveness and profitability, a survey showed Thursday. The once top South Korean shipping line was declared bankrupt on Feb. 17. The failure of Hanjin is forcing local shippers to [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korean steel and chemical products, the country’s leading export items, have increasingly become targets of import restrictions in other countries, a trade agency said Wednesday. Reports sent in by overseas offices of the Korea Trade-investment Promotion Agency (KOTRA) showed that of the 19 new investigations launched against products [...]
SEOUL, Dec. 15 (Korea Bizwire) – South Korea has faced increased non-trade barriers raised by foreign countries in the past few years, while such measures around the globe declined, a report said Thursday. According to the report compiled by the Korea Chamber of Commerce and Industry (KCCI), a total of 134 non-tariff measures such as [...]