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Vietnam among Top Three Destinations for S. Korean Exports in First Seven Months of ’17

Vietnam among Top Three Destinations for S. Korean Exports in First Seven Months of ’17

SEJONG, Aug. 23 (Korea Bizwire) — South Korea’s exports to Vietnam surged nearly 50 percent in the first seven months of 2017, customs data showed Wednesday, an increase that is likely to put the Southeast Asian country among the top three shipment destinations for locally made goods. According to Korea Customs Service, exports to Vietnam [...]

S. Korea’s Exports Remain Upbeat, Gains Weighed down by Lukewarm Domestic Demand

S. Korea’s Exports Remain Upbeat, Gains Weighed down by Lukewarm Domestic Demand

SEJONG, June 9 (Korea Bizwire) – An upturn in global trade and exports has been helping the South Korean economy recover to some extent, but the gains are weighed down by flaccid domestic demand, including investment and private consumption, a government report said Friday.  “The South Korean economy has been on a upside cycle thanks [...]

South Korean Economy Safe but Exposed to Risks: Report

South Korean Economy Safe but Exposed to Risks: Report

SEOUL, May 29 (Korea Bizwire) – The latest report from the Hyundai Research Institute has revealed that South Korea is relatively safe from economic crisis, but warns that a dependency on trade with high-risk nations must not be overlooked.  The report evaluating the vulnerabilities of 26 developing economies around the world categorized the countries using [...]

Rechargeable Batteries Exports Hit Record High in 2016

Rechargeable Batteries Exports Hit Record High in 2016

SEJONG, May 26 (Korea Bizwire) – South Korea’s exports of rechargeable batteries reached a fresh record high in 2016 on rising global demand for smart devices and electric vehicles, customs data showed Friday.  Outbound shipments of accumulators, such as lithium-ion batteries amounted to a record US$4.4 billion in 2016, up 11.6 percent from $3.94 billion [...]

China Imposes Safeguard Measures against Imported Sugar

China Imposes Safeguard Measures against Imported Sugar

SEOUL, May 23 (Korea Bizwire) – China has announced a safeguard measure against imported sugar exceeding the quota for three years, a move that will hurt South Korean exporters, such as CJ Cheiljedang Corp., a leading food manufacturer, a trade promotion agency said Tuesday.  According to the Korea Trade-Investment Promotion Agency (KOTRA), China’s Ministry of [...]

China Quickly Catching up with South Korea’s Core Industries

China Quickly Catching up with South Korea’s Core Industries

SEOUL, May 10 (Korea Bizwire) – The latest analysis from the Korea Institute for Industrial Economics & Trade has revealed that China will soon catch up with the quality and technology of South Korea’s core industries, further threatening Asia’s fourth-largest economy. In the report released Monday, the institute suggested that China would close the gap [...]