SEOUL, Jun. 5 (Korea Bizwire) — South Korea’s imports of coffee products surged to record high levels last year on the back of burgeoning demand for the brewed drink, government data showed Friday. The inbound shipments of coffee products, such as raw beans, coffee beans and coffee capsules, reached 159,000 tons at the end of [...]
SEOUL, May 10 (Korea Bizwire) – An attempt to lease out the remaining duty-free store licenses by tender at the new terminal at Incheon International Airport has failed again, as no duty-free operators made a bid, authorities and industry sources said Wednesday. The auction for licensing to run the apparel and accessories store at the [...]
SEJONG, April 5 (Korea Bizwire) – Sales of Korean cosmetics abroad have shown dramatic growth over the past few years, with exports now eclipsing the three trillion won mark. The Chinese market showed particular interest in Korean beauty products. According to data from the Korea Customs Service, exports last year increased by 53.1 percent compared [...]
SEJONG, Sept. 3 (Korea Bizwire) — Inter-Korean trade in the first seven months of this year recovered to levels before Seoul imposed blanket sanctions against the North for the sinking of its naval ship, government data showed Thursday, thanks to increased exchange via a joint industrial complex. According to the Korea Customs Service (KCS) data, the [...]
SEJONG, Aug. 14 (Korea Bizwire) – Among the fake designer products that were exposed by the Korea Customs Service during the first half of 2015, Cartier ranked No. 1 in terms of the number of fake items. As the trend in the knock-off market moved to watches from bags, Louis Vuitton was pushed out of the top [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s trade volume is forecast to hit a five-year low this year as a stronger local currency and low oil prices weigh heavily on Asia’s fourth-largest economy, data showed Friday. The country’s exports reached US$268.7 billion in the first six months of the year, down 5.1 percent from [...]
SEJONG, June 15 (Korea Bizwire) — South Korea posted a trade surplus for the 40th month in a row in May as imports dropped at a faster pace than exports, customs data showed Monday. According to the data by the Korea Customs Service (KCS), the country’s trade surplus reached US$6.3 billion last month, down from $8.53 [...]
SEJONG, May 22 (Korea Bizwire) — South Korea and the Association of Southeast Asian Nations (ASEAN) have agreed to expand customs-related cooperation to fuel trade, the government said Friday. The Korea Customs Service (KCS) said the understanding was reached at the 11th annual meeting of South Korea-ASEAN customs chiefs in Brunei on Thursday. The 10-member [...]
SEJONG, May 1 (Korea Bizwire) — The volume of South Korea’s energy imports inched up on-year in the first quarter of 2015, but its value dropped sharply due mainly to weak international crude oil prices, customs data showed Friday. According to the data by the Korea Customs Service (KCS), South Korea imported 78.24 million tons of [...]
SEJONG, Apr. 20 (Korea Bizwire) — Grape imports to Korea in 2014 reached record highs in both dollar value and import volume, at $US 189.52 million and 59,260 tons respectively, while domestic grape output and planted areas have halved over the last 15 years. According to the Korea Customs Service on April 19, grape imports [...]