SEOUL, Mar. 21 (Korea Bizwire) – South Korea’s exports of eco-friendly vehicles, including hybrid and electric cars, experienced a significant decline in February, marking the first contraction in over three years, a concerning trend given the country’s rising dependence on electric vehicle (EV) exports. According to data released on March 20 by the Korea Automobile Manufacturers [...]
SEOUL, Mar. 15 (Korea Bizwire) — The South Korean economy has been on a recovery track on the solid growth of exports, but disparities among sectors remain wide amid weak consumption and investment, the finance ministry said Friday. “As shown in manufacturing production and exports, the country has seen an economic recovery and a stable [...]
SEJONG, Feb. 1 (Korea Bizwire) — South Korea’s exports moved up for the fourth consecutive month in January as exports of chips rose at the sharpest rate in around six years, data showed Thursday. Outbound shipments advanced 18 percent on-year to US$54.6 billion last month, according to the data compiled by the Ministry of Trade, [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s car exports jumped 31 percent on-year last year, driven by the growing global demand for premium eco-friendly automobiles, data showed Tuesday. Outbound shipments of cars reached US$70.9 billion in 2023, compared with $54.1 billion a year ago, according to the Ministry of Trade, Industry and Energy. Of [...]
SEJONG, Nov. 1 (Korea Bizwire) — South Korea’s exports moved up on-year for the first time in 13 months in October, driven by robust automobile shipments, along with signs of improvement in the chip sector, data showed Wednesday. Outbound shipments moved up 5.1 percent on-year to US$55 billion last month, according to the data compiled [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s exports of cathode materials have experienced significant growth, primarily driven by the rapid expansion of the secondary battery industry, especially in the electric vehicle sector. However, a substantial portion of the earnings from South Korea’s cathode material exports are flowing back to China, which supplies crucial ingredient [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea’s exports of lipsticks are anticipated to hit a new record in 2023, the customs agency said Monday, on the back of increasing demand as people have taken off masks around the globe. The outlook came as exports of the products reached a record high of US$198 million [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korea’s exports of instant noodles jumped 17.7 percent on-year in the first seven months of 2023 to reach the highest figure for the period ever amid the growing popularity of Korean culture, data showed Friday. The country exported US$522.03 million worth of instant noodles, or “ramyeon” in Korean, [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s exports of fisheries products fell more than 10 percent on-year during the first seven months of 2023, data showed Sunday. Outbound shipments of marine products came to US$1.75 billion in the January-July period, down 11.5 percent from a year earlier, according to the data by the Korea [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea’s export of cathodes, a key secondary battery material, to the United States surged almost threefold in the first seven months from a year earlier, on growing demand for electric vehicle (EV) cells and the new U.S. law on promoting green technologies, data showed Monday. Outbound shipments of [...]