SEOUL, May 27 (Korea Bizwire) – South Korea’s state-run think tank on Tuesday sharply cut its growth forecast for the local economy this year to 1 percent, citing a slowdown in exports and domestic consumption. The revised projection by the Korea Institute for Industrial Economics and Trade (KIET) represents a 1.1 percentage-point drop from its [...]
SEOUL, Jun. 5 (Korea Bizwire) — The cancellation of the free trade agreement (FTA) between Seoul and Washington will be more detrimental to U.S. companies than their South Korean counterparts, a local think tank said Sunday. According to the Korea Institute for Industrial Economics and Trade (KIET), if the South Korea-U.S. pact (KORUS) is nullified [...]
SEOUL, April 11 (Korea Bizwire) – A majority of South Korean manufacturing companies expect their business conditions to improve in the second quarter of the year amid signs of a recovery in exports, a poll showed Tuesday. According to the survey of 645 manufacturers conducted by the Korea Institute for Industrial Economics and Trade (KIET), [...]