SEOUL, July 27 (Korea Bizwire) — The South Korean economy’s dependence on Japan has been on a downward trend since Japan imposed export restrictions against South Korea in July 2019, the country’s leading business lobby group said Sunday. The share of imports from Japan among overall South Korean imports fell from 9.8 percent in Q1 [...]
SEOUL, July 15 (Korea Bizwire) — A Japanese man who became the first foreigner arrested by South Korean police in May for violating mandatory self-isolation rules aimed at containing the coronavirus was freed on Wednesday after being given a suspended jail sentence by a local court. The Seoul Western District Court sentenced the 23-year-old Japanese [...]
SEOUL, July 5 (Korea Bizwire) — Japanese consumer goods producers in South Korea saw their operating profits plunge by more than 70 percent on-year in 2019, data showed Sunday, due to the prolonged trade dispute between the two neighbors that led to a boycott against Japanese products here. The combined operating profit of 31 Japanese [...]
SEOUL, June 29 (Korea Bizwire) — South Korea’s cement industry has launched a drive to reduce the use of Japanese coal ash, while accelerating efforts to develop technology that can promote the use of domestically-made alternatives. The Korea Cement Association announced on Thursday that it will launch a project to develop process technology and facilities [...]
SEOUL, June 28 (Korea Bizwire) — Japanese automakers are suffering an extended slump in South Korea amid a protracted trade row between the two Asian neighbors and the coronavirus pandemic, industry sources said Sunday. Honda Motor Co. suffered a sharp decline in its operating income to 1.98 billion won (US$1.64 million) between April 2019 and [...]
SEOUL, June 4 (Korea Bizwire) — A local court has decided to begin a legal procedure that could lead to liquidating seized assets of a Japanese firm that has ignored a ruling to compensate Korean victims of Japan’s wartime forced labor. According to the legal representatives for four Korean plaintiffs Wednesday, the Pohang branch of [...]
SEOUL, May 24 (Korea Bizwire) — South Korea’s imports of consumer goods from Japan plunged 37 percent in April from a year earlier due to Japan’s export curbs and the new coronavirus impact on consumer spending, government data showed Sunday. The value of imported Japanese consumer goods fell on-year to US$249 million last month as [...]
SEOUL, March 26 (Korea Bizwire) – South Korean companies that embarked on domestic production of hydrogen fluoride after Japan’s export restriction last year have recorded satisfactory performance. It is seen as an exemplary case where companies, both large and small, and the government joined hands to turn the crisis into opportunity. Soulbrain Co., a 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 [...]
SEOUL, Jan. 25 (Korea Bizwire) — A petition by a South Korean nongovernmental organization calling for a ban on the use of Japan’s imperial-era flag during the upcoming Tokyo Olympics has drawn over 56,000 signatures. The Voluntary Agency Network of Korea (VANK), a Seoul-based group that promotes South Korean history and culture, posted the petition [...]