SEJONG, Dec. 23 (Korea Bizwire) - Foreign direct investment (FDI) in South Korea surpassed the US$15 billion mark this year for the first time ever, driven by a free trade pact with China and more favorable business conditions, the government said Wednesday. As of Tuesday, the amount of FDI that arrived in the country reached $15.19 [...]
SEJONG, Dec. 21 (Korea Bizwire) - Free trade pacts between South Korea and three of its trading partners – China, Vietnam and New Zealand – went into effect Sunday, raising hopes they could boost trade and economic growth, the government said. The Ministry of Trade, Industry and Energy said all three free trade agreements (FTA) that were signed and ratified earlier in the year went [...]
SEJONG, Dec. 16 (Korea Bizwire) - The free trade pact between South Korea and Vietnam will go into effect on Dec. 20, and will help fuel trade and expand investment opportunities, the government said Wednesday. According to the Ministry of Trade, Industry and Energy, Seoul and Hanoi agreed on the effective date through diplomatic channels, with [...]
SEOUL, Dec. 4 (Korea Bizwire) - The ratification of a free trade pact with China will give hope to South Korean exporters struggling to expand market presence abroad, the country’s top economic policymaker said Friday. Chairing a fiscal policy meeting in Seoul, Finance Minister Choi Kyung-hwan said that the free trade agreement (FTA) approved by the [...]
SEOUL/SEJONG, Nov. 30 (Korea Bizwire) – The ratification of the free trade pact with China is expected to breathe new life into South Korea’s sagging exports and fuel the country’s growth, local observers said Monday. The bilateral free trade agreement (FTA), signed on June 1 and now passed by the National Assembly, will make South [...]
SEJONG/ISTANBUL, Oct. 7 (Korea Bizwire) — South Korea is seeking more free trade pacts and is committed to the establishment of a global value chain, the country’s vice trade minister has said. Speaking at a two-day G-20 trade ministers meeting which ended in Istanbul on Tuesday, Vice Minister Moon Jae-do said that following the 2008 [...]
SEJONG, Sept. 29 (Korea Bizwire) – South Korea can penalize German automaker Volkswagen AG for cheating on its vehicle emissions under a free trade deal with the European Union (EU), the government said Tuesday. According to the environment ministry, the free trade agreement (FTA) reached between the EU and Asia’s fourth-largest economy and South Korea’s [...]
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, [...]
SEJONG, May 5 (Korea Bizwire) – South Korea and Vietnam signed a bilateral free trade agreement (FTA) Tuesday, the Seoul government said, with the countries seeking to implement the deal before the year’s end. The Korea-Vietnam FTA was officially signed by the countries’ trade ministers in a ceremony held in Hanoi, about a month after [...]
SEJONG, Apr. 20 (Korea Bizwire) — Grape imports to Korea in 2014 reached record highs in both dollar value and import volume, at $US 189.52 million and 59,260 tons respectively, while domestic grape output and planted areas have halved over the last 15 years. According to the Korea Customs Service on April 19, grape imports [...]