SEOUL, Feb. 28 (Korea Bizwire) — The Japanese beer industry, which has nothing to do with the Japanese government’s restrictions on exports of semiconductor materials to South Korea, has almost completely lost its foothold in the Korean market. According to the monthly trade statistics released Thursday by Japan’s Ministry of Finance, beer exports to South [...]
SEOUL, Feb. 18 (Korea Bizwire) — South Korea’s imports of key consumer goods from Japan fell for the seventh consecutive month in January as a boycott of Japanese goods has dragged out amid their monthslong feud over their shared wartime history, data showed Tuesday. Imports of consumer goods from Japan dipped 35.9 percent from a [...]
SEJONG, Dec. 24 (Korea Bizwire) — South Korea’s Cabinet on Tuesday approved a plan to lower tariff rates on 77 products next year to bolster the country’s industrial competitiveness and stabilize prices of domestic goods. The products covered by a tariff quota include crude oil, liquefied natural gas and cobalt sulfate, a key ingredient in [...]
SEOUL, Dec. 2 (Korea Bizwire) — Beef imported from the United States increased significantly to hit a share of over 50 percent of South Korea’s imported beef market this year, a trade promotion agency said Monday. South Korea imported 209,034 tons of U.S. beef in the January-October period, up 7.9 percent from 193,685 tons tallied [...]
SEOUL, Sept. 12 (Korea Bizwire) — South Korean imports of Japanese beer nose-dived this month due to a boycott of products from the Asian neighbor here amid a bilateral trade dispute, data showed Thursday. The combined imports of Japanese beer over the first 10 days of this month fell a whopping 99.9 percent from a [...]
SEOUL, Mar. 28 (Korea Bizwire) — South Korean imports of U.S. food spiked nearly 20 percent on-year to a record high in 2018 due to lower tariffs and a jump in meat imports, a report said Thursday. South Korea imported US$9.37 billion worth of U.S. farm, livestock and food products last year, up 19.7 percent [...]
SEOUL, Mar. 12 (Korea Bizwire) — South Korea outstripped China as the world’s No. 2 importer of U.S. crude oil in 2018 due to its cheaper price and a Sino-American trade war, an industry report said Tuesday. South Korea’s daily average imports of American crude amounted to 236,000 barrels last year, trailing Canada’s 378,000 barrels, [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea will allow imports of medical cannabis starting next month, health authorities said Tuesday, as part of efforts to provide more treatment options for patients with rare diseases. The Ministry of Food and Drug Safety said the National Assembly has passed a bill to amend a relevant law [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s coal imports hit a new high last year despite government efforts to phase out the use of fine dust-emitting energy sources, industry data showed Tuesday. The country shipped in 131.52 million tons of coal last year, breaking the record for the second consecutive year. Coal imports in [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korea’s imports of coffee declined last year for the first time since 2012, suggesting that the boom of coffee shops might have peaked, data showed Sunday. Imports of coffee fell to 143,000 tons in 2018, down 2,600 tons from a year ago, according to data by the Korea [...]