SEOUL, July 3 (Korea Bizwire) — South Korea’s exports to the United States rose more than 5 percent per year on average over the past decade thanks to the 2012 bilateral free trade agreement, compared with a 1.5 percent increase in the country’s overall exports, a think tank said Monday. South Korea’s shipments to the [...]
SEOUL, March 12 (Korea Bizwire) — Trade volume of goods between South Korea and the United States grew nearly 70 percent, and bilateral investment more than doubled over the past decade since their free trade agreement, Seoul’s industry ministry said Friday. The Korea-U.S. Free Trade Agreement (KORUS FTA) marked its 10th anniversary this month, as [...]
SEOUL, March 30 (Korea Bizwire) — Rejecting assertions that South Korea could end up as a shrimp among whales in the brewing trade war between the United States and China, trade minister Kim Hyun-chong instead said via a live video presentation on Facebook that Asia’s fourth largest economy “must quickly transform into a dolphin and [...]
SEJONG, Jan. 26 (Korea Bizwire) — South Korea and the United States plan to hold the second round of talks to amend their free trade pact in Seoul next week, Seoul’s trade ministry said Friday, amid mounting U.S. trade pressure. The two-day talks — set to begin Wednesday — come days after U.S. President Donald [...]
SEOUL, Jan. 11 (Korea Bizwire) – Deputy Minister for Trade Kang Sung-chun left for the United States yesterday as South Korea looks to make one last push to encourage its second-largest trading partner to back off from imposing tariffs on solar panels and washing machines. Though fingers are crossed, the general mood is pessimistic, with [...]
SEOUL, Nov. 10 (Korea Bizwire) – The South Korean government will have another issue to discuss in the next round of FTA negotiations with the United States after a recall of imported Chevrolet Impalas has been delayed in adherence to a clause in the trade pact. The clause in question stipulates that a business can [...]
SEOUL, Oct. 5 (Korea Bizwire) — South Korean political parties on Thursday emphasized the importance of protecting national interests in Seoul’s upcoming talks with Washington to amend their free trade agreement. On Wednesday (local time) in Washington, the two sides agreed to begin a process to amend their trade deal. Their talks were led by [...]
SEJONG, Jul. 25 (Korea Bizwire) — South Korea suggested the United States carry out a joint study on the economic impact of the Seoul-Washington free trade agreement before starting talks on its amendment, Seoul’s trade ministry here said Tuesday. “Regarding your request to convene a special session of the Joint Committee under the KORUS FTA, [...]
SEOUL, March 13 (Korea Bizwire) – The United States has benefited even more than South Korea has from the countries’ free trade agreement (FTA), experts here said Monday, noting a demand to renegotiate the terms of the bilateral pact by Washington may well work to serve Seoul’s interest. The Korea-U.S. FTA, also known as the [...]
SEOUL, May 2 (Korea Bizwire) — A market survey has revealed that cherries are becoming increasingly popular. According to Lotte Mart, cherries made up four percent of all fruits sold in 2015, holding ninth place in the rankings. Cherry sales have increased consistently over the past three years, rising from 2.3 percent market share in [...]