SEOUL, March 7 (Korea Bizwire) – Korea faces a slowdown in job growth due to changes in its demographic structure, which will reduce the country’s potential growth rate in the coming years. According to Park Yang-soo, head of the Bank of Korea’s Economic Research Institute, the average annual increase in the number of employed people [...]
SEOUL, Feb. 4 (Korea Bizwire) — The amount of wheat and other grains brought home by South Korean agricultural firms more than doubled in 2020 from a year earlier, data showed Thursday, in line with the country’s efforts to revamp its national food security. The combined amount of grains excluding rice imported through South Korean [...]
SEOUL, Jan. 23 (Korea Bizwire) — Beer imports in South Korea declined last year for the first time in a decade, a phenomenon not seen since the 2009 global financial crisis. Analysts say beer imports, which recently peaked in terms of growth, showed signs of falling. Adding to the symptom of decline was a boycott [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korean imports of Japanese beer tumbled more than 99 percent on-year in the past two months due to a boycott of Japanese products amid a bilateral trade row, data showed Friday. South Korea brought in Japanese beer worth US$38,000 in October, down 99.5 percent from a year earlier, [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korea will strengthen its environmental and health safety inspections for battery, tire and plastic waste imported from Japan, the government said Friday. The Ministry of Environment said it will beef up radioactive and heavy metals tests on Japanese waste batteries, tires and plastics being imported into South Korea [...]
SEJONG, Feb. 19 (Korea Bizwire) — South Korean companies imported US$101.2 million worth of Iranian crude last month, the first such move in five months, data showed Tuesday. The January figure represents less than one-fifth of $539 million, the average monthly Iranian crude oil imports for the first seven months of 2018, according to the [...]
SEOUL, Oct. 26 (Korea Bizwire) — New data shows that South Korea is one of the 10 largest importers (in terms of price) of coffee products produced in the European Union (EU). According to Eurostat, the EU’s statistics agency, the sum amount of coffee products exported from the EU to South Korea last year totaled [...]
SEOUL, Sept. 27 (Korea Bizwire) — With U.S. President Donald Trump continuing to push to implement policies to export liquefied natural gas (LNG), South Korea was found to be the largest importer of American LNG this year. According to a recent report released by the U.S. Energy Information Administration (EIA), the total amount of LNG [...]
SEOUL, Mar. 5 (Korea Bizwire) — U.S. beef imports shot up significantly last year, beating Australian meat to regain its No. 1 status in the South Korean market for the first time in 14 years, industry data showed Monday. South Korea imported 177,000 tons of U.S. beef last year, up 13.5 percent from 156,000 tons [...]
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 [...]