SEOUL, July 30 (Korea Bizwire) — South Korea has reported a surplus in trade with countries with which it signed free trade pacts, data showed Thursday, in a sign that such deals help Seoul cushion the negative impact of the coronavirus pandemic. According to the data by the Korea Customs Service (KCS), South Korea posted [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea struck a free trade deal with Israel as part of efforts to strengthen economic ties with the Middle East country and cope with the growing protectionism around the globe, Seoul’s trade ministry said Wednesday. In Jerusalem, South Korean Trade Minister Yoo Myung-hee and her counterpart Eli Cohen [...]
SEOUL, Sept. 5 (Korea Bizwire) — While the alleged development of a hydrogen bomb by North Korea is keeping the military on alert, Donald Trump’s allusions to a possible termination of the Korea – U.S. Free Trade Agreement is keeping the nation’s economy in a similar state. In the latest stream of news either decrying [...]
SEJONG, June 13 (Korea Bizwire) – The South Korean government vowed Tuesday to take all necessary measures to deal with growing U.S. barriers against its trade surplus and steel products. “As the U.S. government has been moving to strengthen trade restrictions and raise barriers, all government ministries need to formulate countermeasures against such developments,” Deputy [...]
SEJONG, Dec. 26 (Korea Bizwire) – South Korea’s exports to Vietnam and New Zealand rose over the past year to a large extent on the back of the implementation of bilateral free trade pacts amid sluggish global demand, latest customs data showed Monday. Outbound shipments of South Korean-made goods to Vietnam jumped 15.2 percent on-year [...]
SEOUL, Nov. 18 (Korea Bizwire) – The latest data compiled by the Ministry of Oceans and Fisheries shows that the quantity of imported marine products has soared following new trade agreements, with the large majority coming from China. As of October, there were 25 marine product items that Korea was obliged to import with low [...]
SEOUL, Sept. 19 (Korea Bizwire) – Korea’s recent trade agreements with major fruit exporters such as New Zealand and Chile have brought about a significant increase to consumption of imported fruits, thanks to lower prices. According to Emart, Korea’s leading retailer, sales of imported kiwis soared by 95.1 percent from January to August compared to [...]
SEJONG, April 7 (Korea Bizwire) – Exports of dried and seasoned seaweed products have increased dramatically after they won the hearts of Chinese consumers. According to the Korea Customs Service, exports of dried and seasoned seaweed peaked in 2015, and the $224.3 million in sales was a 10.8 percent increase compared to 2014. Considering sales [...]
SEOUL, Dec. 9 (Korea Bizwire) – A free trade agreement between South Korea and China will come into force on Dec. 20, officials said Wednesday, about six months after the two nations formally signed the deal aimed at slashing tariffs and other trade barriers. The South Korean Ambassador to China, Kim Jang-soo, and Chinese assistant [...]
SEOUL, June 19 (Korea Bizwire) — The automobile, mobile phone and medical sectors are among the areas that could benefit a lot from a free trade deal with Central American countries as lower tariffs are expected to help them better compete with cheaper products imported from China and other countries, a report said Friday. Earlier, [...]