SEJONG, Nov. 14 (Korea Bizwire) – South Korea’s southeast region (Busan, Ulsan, South Gyeongsang Province), also called the “Southeast Economic Belt”, which plays an essential role as the country’s major production hub and a locus for trade, has steadily lost momentum in recent years, announced Statistics Korea Monday. According to KOSTAT, the index of industrial [...]
SEOUL, Nov. 9 (Korea Bizwire) – The outcome of the U.S. presidential election will inevitably have an impact on South Korea’s exports to the U.S., but victory of either one of two leading candidates — Hillary Clinton and Donald Trump — may lead to a rise in South Korean shipments, just in different areas, a [...]
SEJONG, Oct. 26 (Korea Bizwire) – South Korea’s passenger car exports slumped 17.4 percent in the third quarter of 2016 from a year earlier due mainly to contracted world demand and partial strikes at local carmakers, customs data showed Wednesday. The total value of exported vehicles reached US$7.23 billion in the July-September period, down from [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s exports are expected to receive a much-needed boost next year from more imports by its major trading partners including China and the United States, the Bank of Korea (BOK) said Thursday. In a report on global trade, the central bank analyzed the estimated income and import growth [...]
SEJONG, Oct. 11 (Korea Bizwire) – The South Korean economy has been experiencing a bumpy recovery as a slowdown in production and exports dragged down an apparent upturn in domestic demand, a government report said Tuesday. “The economy has been on a flaccid recovery track as private consumption and investment have made a turnaround in [...]
SEOUL, Oct. 10 (Korea Bizwire) – South Korean cosmetics have seen a dramatic surge in demand in overseas markets as their innovative makeup and skincare products are attracting a global audience, the Korea Trade-Investment Promotion Agency (KOTRA) said Monday. According to KOTRA’s survey on overseas buyers in 55 nations, cosmetics were the most popular item [...]
SEJONG, Oct. 7 (Korea Bizwire) – South Korea’s car exports plunged at the fastest clip in nearly seven years last month due mainly to partial strikes at local carmakers and contracted global demand, the government said Friday. Outbound shipments of vehicles came to 156,680 units in September, down 23.7 percent from 205,274 units tallied a [...]
SEOUL, Oct. 4 (Korea Bizwire) – South Korea’s current account surplus hit the lowest in four months in August due to slowing exports and increased imports, central bank data showed Tuesday. The current account surplus reached US$5.51 billion in August, compared with $8.67 billion in July, according to the preliminary data from the Bank of [...]
SEJONG, Sept. 2 (Korea Bizwire) – South Korea will pour more than 65 trillion won (US$58.1 billion) into the local economy next year to revitalize the economy, which has been plagued by faltering exports and rising uncertainties in the global market, the trade ministry said Friday. Out of the 400.7 trillion won budget for 2017, [...]
SEOUL, Aug. 18 (Korea Bizwire) – Smaller startup and emerging companies are boosting their shipments abroad despite a prolonged downturn in Korea’s export sector. According to the Korea International Trade Association (KITA), while Korea’s total exports from January to July 2016 decreased by 10.1 percent compared to the same period last year, exports by emerging [...]