CHENGDU, China, July 24 (Korea Bizwire) – South Korea’s finance minister said Sunday a bilateral free trade agreement (FTA) with the European Union (EU) should be further developed despite Britain’s recent exit from the world’s biggest economic bloc. “The South Korea-EU FTA should continue to develop despite Brexit,” Finance Minister Yoo Il-ho said. The free [...]
SEOUL, Oct. 22 (Korea Bizwire) – The ratio of imported vehicles in South Korea’s automotive market has been conspicuously on the rise and many people wonder what factors have been behind the local consumers’ crush on “Made-in Overseas” automobile brands. About this, many say the government’s regulation shift, high oil prices — which led to a [...]
SEOUL, July 2 (Korea Bizwire) – From July 1st this year, which marks the third anniversary of Korea-EU free trade agreement, the tariffs on mid- and large-sized European cars was abolished in Korea. Coupled with this measure, lowering tariffs on small-sized cars will give a further boost to already hot-selling European automotive industry in the [...]