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 [...]
SEOUL, May 17 (Korea Bizwire) – Exports of South Korean TV programs and other broadcast content at international media trade fairs amounted to $51 million, the latest government data shows. According to the Ministry of Culture, Sports and Tourism, and the Korea Creative Content Agency, local content providers inked export contracts worth $37.7 million during [...]
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 [...]
SEOUL, May 8 (Korea Bizwire) – Ginseng exports to China amounted to $9.9 million in the first quarter of 2017, which was double the figure compared to Q1 2016, according to the latest data from the Ministry of Agriculture, Food and Rural Affairs. Exports to China saw rapid growth starting in 2000, peaking at $45.61 [...]
SEJONG, May 2 (Korea Bizwire) – South Korea will simplify customs clearance process to help local exporters do business more easily in a way to give further momentum to the country’s exports which seems to have entered an upside cycle, the customs agency said Tuesday. The Korea Customs Service (KTS) said those who sell goods [...]
SEJONG, April 6 (Korea Bizwire) – The South Korean economy has been seeing a modest recovery in recent months on the back of improvement in investment and exports, a state-run think tank said Thursday. “The Korean economy continued to grow at a moderate pace on improving investment and exports,” the Korea Development Institute (KDI) said [...]
SEOUL, March 3 (Korea Bizwire) – South Korea should reduce its reliance on the U.S. economy and push to galvanize domestic demand as the world’s No. 1 economy is expected to continue its slow growth down the road, a state think tank said Friday. In a report on the future of the U.S. economy, the [...]
SEOUL, Feb. 22 (Korea Bizwire) – Exports of South Korea-made cosmetics soared more than 10-fold over the past seven years, government data showed Wednesday, as the Korean Wave, or Hallyu, fueled robust demand from China and other Asian countries. Outbound shipments of makeup products reached US$4.18 billion in 2016, compared to $451.15 million tallied in [...]
SEJONG, Feb. 21 (Korea Bizwire) – South Korea’s exports continued their upbeat mode in the first 20 days of February, underscoring a recovery in the country’s outbound shipments, the latest customs data showed Tuesday. Exports amounted to US$27.7 billion from Feb. 1-20, up 26.2 percent from the same period last year, according to the data [...]