SEOUL, March 13 (Korea Bizwire) — The U.S. beef industry has called on the Trump administration to push South Korea to ease its restrictions on American beef imports, drawing close attention from the South Korean livestock and distribution sectors. On March 12, the National Cattlemen’s Beef Association (NCBA) formally requested that the U.S. Trade Representative [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korea’s fresh fruit imports reached an all-time high in 2024, surpassing $1.4 billion for the first time, driven by rising domestic fruit prices and increased demand for imported alternatives. According to the Korea Rural Economic Institute (KREI), imports of 12 major fresh fruits amounted to $1.447 billion (approximately [...]
SEOUL, Jan. 21 (Korea Bizwire) — Korean industries are expressing growing concern with the burden of increased raw material import costs and overseas investment expenses outweighing potential export benefits amid high exchange rates, according to a new report released on January 20. The Korea Chamber of Commerce and Industry surveyed 12 major industry associations to assess [...]
SEOUL, Nov. 5 (Korea Bizwire) – French beef is set to make its return to South Korean markets after a 24-year hiatus, marking a significant development in bilateral trade relations. The ban, implemented in 2000 due to concerns over Bovine Spongiform Encephalopathy (BSE), commonly known as mad cow disease, was recently lifted following extensive safety verifications. [...]
SEOUL, Oct. 9 (Korea Bizwire) — The number of imported electric vehicles (EVs) newly registered in South Korea fell 40.1 percent on-year over the August-September period, data showed Wednesday, amid the public’s lingering concerns over their safety. According to data compiled by the Korea Automobile Importers & Distributors Association, 6,868 imported EVs were newly registered [...]
SEOUL, May 17 (Korea Bizwire) — Nearly 1 out of 5 imported vehicles in South Korea were battery-powered ones in the January-April period despite slowing sales of electric vehicles (EVs) globally, industry data showed Friday. In the first four months, registrations of pure EVs jumped to 13,863 units from 5,417 during the same period of [...]
SEOUL, Mar. 6 (Korea Bizwire) – Despite the significant increase in fruit and vegetable prices, government interventions to regulate import quantities as a means to manage inflation are not feasible for apples, which have seen substantial price hikes, earning them the nickname “golden apples.” The stringent quarantine system is the primary barrier. According to the Korea [...]
SEJONG, Dec. 7 (Korea Bizwire) — The South Korean government will push to pay for part of urea imports when companies need to buy the chemical from nations other than China as part of efforts to prevent a supply shortage and ensure a longer-term stable supply, the industry minister has said. Industry Minister Bang Moon-kyu [...]
SEOUL, Nov. 16 (Korea Bizwire) — South Korea’s beer imports from China plunged more than 40 percent last month from a year earlier following the release of a viral video showing a man urinating into a tank at Tsingtao Brewery, the customs office said Thursday. The amount of beer imports from China fell 43 percent [...]
SEOUL, Nov. 9 (Korea Bizwire) – The percentage of imported passenger cars in the domestic market is anticipated to drop below 20 percent this year, marking the first decline in four years. This decrease can be attributed to the relative success of domestic passenger car models, particularly Hyundai Motor’s luxury brand, Genesis, and the overall decrease [...]