SEOUL, Jul. 31 (Korea Bizwire) — South Korea’s exports of the traditional alcoholic beverage “makgeolli” declined nearly 5 percent in 2017, marking a drop for the sixth consecutive year as it failed to attract consumers from the United States and China, government data showed Tuesday. Outbound shipments of the Korean rice wine came to US$12.25 [...]
SEOUL, Jan. 23 (Korea Bizwire) — Exports of South Korean-made instant noodles, or “ramyeon,” surpassed the US$300 million mark for the first time ever on the back of strong popularity in China, the United States and Southeast Asian nations, government data showed Tuesday. Shipments of ramyeon reached a record high of $380 million last year, [...]
SEJONG, Sept. 1 (Korea Bizwire) — South Korea’s exports extended their double-digit growth to eight straight months in August on record shipments of semiconductors, government data showed Friday. Outbound shipments came to US$47.1 billion in the month, up from $40.1 billion tallied a year earlier, according to data compiled by the Ministry of Trade, Industry [...]
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 [...]
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 [...]
SEJONG, June 1 (Korea Bizwire) – South Korea’s exports jumped 13.4 percent last month from a year earlier to extend their winning streak to seven months on the back of brisk overseas sales of computer chips and displays, the trade ministry said Thursday. Outbound shipments came to US$45 billion last month, up from $39.7 billion [...]
SEOUL, May 30 (Korea Bizwire) – The government plans to develop a common label that can represent all quality products made by South Korean small and medium-sized enterprises (SMEs) that can facilitate marketing for exports, officials said Tuesday. The idea is similar to the “cross” label that is used on products made by Swiss companies [...]
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 [...]
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 [...]
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 [...]