SEOUL, Oct. 28 (Korea Bizwire) — South Korea plans to expand its tariff-rate quota on energy and food imports as the country struggles to cope with inflation and the strong U.S. dollar, the finance ministry said Friday. The tariff-rate quota is a system under which products are imported with favorable duty conditions within a designated [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korea’s imports of recreational water leisure items marked a sharp increase during the January to July period of this year compared to a year ago thanks to the return of everyday life after the COVID-19 pandemic. According to the Korea Customs Service, the nation’s imports of recreational water [...]
SEOUL, April 27 (Korea Bizwire) — South Korea’s imports of home furnishing products hit an all-time high last year on the back of demand by stay-at-home consumers amid the COVID-19 pandemic, data showed Wednesday. The imports of eight kinds of home furnishing goods, including sofas and lamps, came to US$3.5 billion last year, up 15.6 [...]
SEOUL, March 21 (Korea Bizwire) — South Korea’s imports of coffee surged more than 24 percent to hit a new all-time high in 2021 on its growing popularity here, data showed Monday. The value of the country’s coffee imports stood at US$916.5 million last year, up 24.2 percent from the previous year, according to the [...]
SEOUL, Feb. 28 (Korea Bizwire) – South Korea’s dependency on Japanese materials and parts fell to an all-time low last year following Tokyo’s control of exports of key products bound for Seoul, the industry ministry said Monday. Imports of Japanese materials, parts and equipment came to US$39.5 billion in 2021, accounting for 15.9 percent of [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s imports of leisure goods rose 36.5 percent last year from a year earlier as the COVID-19 pandemic boosted demand for indoor activities, customs data showed Friday. Imports of goods used for leisure activities, including tablets and TVs, came to US$9.56 billion last year, compared with $7 billion [...]
SEOUL, Jan. 25 (Korea Bizwire) — Imports of camping goods, golf equipment and televisions have spiked over the last two years since the coronavirus outbreak primarily due to rising demand for ‘self-gifts’ and having to stay indoors, customs data showed Monday. The Korea Customs Service reported that imports of camping goods rose from US$74 million [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korean imports of beer hit a five-year low in 2021 in the wake of a nationwide boycott of Japanese products, data showed Monday. The value of beer imports came to US$223.1 million last year, down 1.7 percent from a year earlier, according to the data compiled by the [...]
SEOUL, Jan. 11 (Korea Bizwire) — South Korea is expected to become the largest importer of U.S. beef for the first time in 13 years. The U.S. Department of Agriculture and U.S. Meat Export Federation reported that a total of 253,175 tons of U.S. beef were exported to South Korea between January and November of [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s wine imports soared over 70 percent in 2021 as more people enjoyed drinking at home and alone amid the coronavirus pandemic, data showed Wednesday. Asia’s fourth-largest economy imported US$506.2 million worth of wine in the January-November period of last year, up 76 percent from a year earlier, [...]