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Oil Refiners Increase Crude Imports from U.S. for Diversification of Sources

Oil Refiners Increase Crude Imports from U.S. for Diversification of Sources

SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s oil refiners will continue to import more crude oil from the United States this year as they work to diversify sources away from the Middle East, industry officials said Monday. SK Energy announced it will purchase 3 million barrels of U.S. crude oil in the first quarter [...]

Golf Equipment Imports Increase Despite Anti-corruption Law

Golf Equipment Imports Increase Despite Anti-corruption Law

SEOUL, Feb. 1 (Korea Bizwire) — Imports of golf equipment increased more than 10 percent last year, customs data showed Thursday, bucking initial expectations that the popularity of the costly sport would be dampened by a new anti-corruption law. Trade figures obtained by the Ministry of Culture, Sports and Tourism from the customs agency said [...]

Imports of E-cigarettes Rose Sharply since Conventional Tobacco Tax Hike in 2015: Data

Imports of E-cigarettes Rose Sharply since Conventional Tobacco Tax Hike in 2015: Data

SEOUL, Oct. 10 (Korea Bizwire) — Imports of electronic cigarettes more than doubled after the government raised taxes on conventional tobacco in 2015 to discourage smoking, government data showed Tuesday. Industry sources attribute the sharp rise to smokers switching to e-cigarettes which are exempted from higher taxes. The government increased taxes on cigarettes by 2,000 [...]

Imports Account for 30 Pct of Manufactured Goods in Korea

Imports Account for 30 Pct of Manufactured Goods in Korea

SEJONG, Sept. 9 (Korea Bizwire) – About 30 percent of manufactured goods consumed by South Koreans in their daily lives were imported from abroad in this year’s second quarter on rising demand for foreign electronic devices and pharmaceuticals, latest data showed Friday.  Out of the total domestic manufacturing supply, including intermediate and consumer goods, foreign-made [...]

Kimchi Originator Country Korea Hit by Falling Consumption, Imports

Kimchi Originator Country Korea Hit by Falling Consumption, Imports

SEOUL, July 6 (Korea Bizwire) – South Korea’s kimchi consumption is falling, despite the country being the originator of the pickled side dish, and even those being served on dining tables are often imports from China, research results showed Wednesday.  According to an industry analysis by the World Institute of Kimchi in Seoul, South Koreans on [...]