SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s imports of Vietnamese agricultural and livestock products jumped 34 percent two years after the two nations’ bilateral free trade deal came into force, data showed Sunday. Two-way trade between the two countries has risen since the deal went into effect in December 2015, making Vietnam the fourth-largest [...]
SEOUL, Jan. 11 (Korea Bizwire) – Deputy Minister for Trade Kang Sung-chun left for the United States yesterday as South Korea looks to make one last push to encourage its second-largest trading partner to back off from imposing tariffs on solar panels and washing machines. Though fingers are crossed, the general mood is pessimistic, with [...]
SEOUL, Jan. 4 (Korea Bizwire) – South Korea’s trade ministry said Thursday it will hold a public hearing on the negotiations to expand the scope of the free trade agreement (FTA) with China to further lower trade barriers in the service and investment sectors. Policymakers, experts and industry officials will take part in the hearing [...]
SEOUL, Dec. 6 (Korea Bizwire) — South Korea’s trade surplus with the United States fell sharply during the first 11 months of this year from a year earlier amid growing pressure from Washington, data showed Wednesday. The U.S. has demanded a revision to a free trade agreement (FTA) with Seoul, which U.S. President Donald Trump [...]
SEOUL, Dec. 4 (Korea Bizwire) — The South Korean government will establish a plan to renegotiate the free trade agreement (FTA) with the United States and notify its course of action to the National Assembly, the trade ministry said Monday. Trade Minister Kim Hyun-chong held a meeting with officials from 20 ministries and government organizations [...]
SEOUL, Oct. 25 (Korea Bizwire) – For the first time, a U.S. national has sued the South Korea government over land expropriation, citing the free trade agreement between South Korea and U.S. The Ministry of Justice said on Tuesday that a U.S. citizen, identified only by her surname Seo, filed a request for arbitration through investor-state [...]
SEOUL, Sept. 15 (Korea Bizwire) – Prime Minister Lee Nak-yon met with the governor of the U.S. state of Wisconsin on Friday and discussed trade and economic cooperation, including the free trade pact between the two countries, Lee’s office said. Gov. Scott Walker has been on a four-day visit to South Korea since Wednesday, leading [...]
SEOUL, Sept. 11 (Korea Bizwire) – Increasing roadblocks on the path towards the Chinese economic heartland and a disquieting back and forth with the United States over the KORUS FTA has pushed the South Korean government to grow its trade with India and South Asian nations. According to the Ministry of Trade, Industry and Energy, [...]
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 [...]
SEOUL, Sept. 4 (Korea Bizwire) — A sense of true stability may be a foreign concept in a country still divided and technically at war for the 64th year and counting. Perhaps South Korea can begin importing this ‘sense’ after it renegotiates its Free Trade Agreement with the United States, as Donald Trump wants. Late [...]