SEOUL, March 13 (Korea Bizwire) – The United States has benefited even more than South Korea has from the countries’ free trade agreement (FTA), experts here said Monday, noting a demand to renegotiate the terms of the bilateral pact by Washington may well work to serve Seoul’s interest. The Korea-U.S. FTA, also known as the [...]
North Chungcheong, SOUTH KOREA, March 13 (Korea Bizwire) — South Korean grape farms are going out of business as they are having difficulty competing with American and Chilean grape exporters following FTA agreements with both countries. In Yeongdong and Okcheon County in North Chungcheong Province, well-known grape-producing districts, nearly a third of the grape farms [...]
SEOUL, March 12 (Korea Bizwire) – South Korea and five Central American countries have initialed their free trade agreement (FTA), which is expected to pave wider ways for Asia’s fourth-largest economy to tap deeply into the continent, the trade ministry here said Sunday. In November of last year, South Korea and six Central American nations [...]
SEJONG, Feb. 14 (Korea Bizwire) – South Korea and Southeast Asian countries agreed to speed up negotiations to upgrade their free trade agreement, Seoul’s trade ministry said Tuesday, amid rising fears over trade protectionism. Seoul has been in talks with the 10 Association of Southeast Asian Nations (ASEAN) to improve the FTA, which took effect [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea and China have agreed to expand the mutual certification of electronics and electrical products on the occasion of the first anniversary of their free trade deal, a government agency said Tuesday. The agreement calls for the exemption of 104 electronics and electrical goods from obtaining a mandatory [...]
SEOUL, Dec. 16 (Korea Bizwire) – December 20 will mark the first anniversary of the day that the Korea-China free trade agreement took effect. Although exports of Korean products that had their tariffs lowered thanks to the FTA gradually increased over the year, local industries have yet to take full advantage of the deal. According [...]
SEOUL, Nov. 30 (Korea Bizwire) – The United States’ trade policy will inevitably face various changes under the new Donald Trump administration, but unlike what many believe, the U.S. will not be seeking to reduce its trade with other countries, local experts said Wednesday. “Trump’s protectionist trade view is in fact practicalism based on his [...]
SEOUL, Sept. 28 (Korea Bizwire) – A recent report from the U.S. Department of Commerce highlighted South Korea’s role in creating jobs in America, indicating that the Korea-U.S. Free Trade Agreement is yielding positive outcomes despite recent criticism from Donald Trump. The Republican presidential candidate has ceaselessly condemned the trade pact as part of his [...]
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 [...]
SEOUL, Aug. 25 (Korea Bizwire) – South Korea’s exports to Vietnam have spiked over 10 percent so far this year, making it the world’s third-largest importer of South Korean goods, data showed Thursday. In the January-July period, shipments to Vietnam jumped 10.1 percent on-year to US$18.02 billion, according to the data from the Korea International [...]