SEOUL, April 16 (Korea Bizwire) – Riding Hallyu, or the Korean Wave, cosmetics products have developed into strong moneymaking export items as they set records for exports and trade surplus last month. According to the Korea Customs Service, the value of cosmetics exports in March was US$277.5 million, the largest amount since the office began [...]
SEJONG, March 29 (Korea Bizwire) — South Korea’s bicycle imports rose 18.5 percent in the last three years, government data showed Sunday, fueled by the spike in people enjoying leisure and sports activities. According to data by the Korea Customs Service (KCS), the country imported US$210 million worth of bikes last year, up from $170 million [...]
SEOUL, Feb. 17 (Korea Bizwire) — Grapefruits are the new trendy import among Koreans right now. According to the Korea Customs Service, 19,491 tons of grapefruits were imported to Korea last year, which is an increase of 68.3 percent from 2013. Compared to 2009, the import amount and the import value increased 240.5 percent and 266.5 [...]
SEJONG, Jan. 25 (Korea Bizwire) — Overseas direct purchases made by South Koreans reached an all-time annual high of US$1.54 billion in 2014, as consumers sought better bargains and a wider choice of products, the customs service said Friday. The total represents a 39 percent increase compared to $1.04 billion brought in from abroad in [...]
SEJONG, Jan. 19 (Korea Bizwire) — Cigarette imports dropped on-year in 2014, but imports of electronic cigarettes leaped as South Koreans tried to kick the habit after the government raised prices, the customs office said Monday. The government raised the average price of a pack of cigarettes by 2,000 won (US$1.84) on Jan. 1, pushing [...]
SEOUL, Sept. 1 (Korea Bizwire) – As the wristwatches are gaining popularity among Koreans, Korea’s imports of the luxury timepieces established a monthly high record during July. According to the export and import statistics from the Korea Customs Service, the volume of imported luxury watches reached US$21.6 million, a monthly high since January 2000 when [...]
SEOUL, July 21 (Korea Bizwire) – The imports of mate tea (pronounced as “mah-tay”) have grown 18 times for the past five years. It contrasts well with the importation of green tea and black tea growing only 3.4 times during the same period. The caffeine-rich tea from South America is popular in Korea principally because of [...]
SEOUL, July 2 (Korea Bizwire) – Data show that there are over 60,000 Korean overseas travelers who spent over US$5,000 with credit cards to buy foreign goods in the first quarter of this year. It also found that there are plenty who spent over $100,000 on credit in acquiring items. Following the customs law amendment [...]
SEOUL, Korea, April 18, 2014 (Korea Bizwire) – The Korea Customs Service held a regulatory reform meeting on April 17 and presented plans for easing regulations related to customs clearance. As part of the plans, the government agency said it would reduce the time it takes for goods purchased from overseas online retailers to go [...]