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S. Korea’s Export Growth to Reach 3.8 pct in 2019: KOTRA

S. Korea’s Export Growth to Reach 3.8 pct in 2019: KOTRA

SEOUL, Jan. 24 (Korea Bizwire) – The state-run Korea Trade-Investment Promotion Agency (KOTRA) said Thursday that exports are anticipated to grow 3.8 percent on-year to US$628.2 billion in 2019.  It would mark the second consecutive year that South Korea exports top the $600 billion mark. Last year, the country’s shipments came to $605.5 billion, up [...]

KOTRA Signs MOU with Saudi Aramco to Enhance Biz Ties

KOTRA Signs MOU with Saudi Aramco to Enhance Biz Ties

SEOUL, Apr. 11 (Korea Bizwire) — The Korea Trade-Investment Promotion Agency (KOTRA) said Wednesday it has signed a memorandum of understanding (MOU) with Saudi Aramco, the world’s largest crude exporter, to enhance bilateral cooperation in energy, trade, investment and other fields. KOTRA said it expects the MOU signed at KOTRA’s headquarters in southern Seoul on [...]

Foreign-Invested Enterprise Staff Unimpressed with S. Korea’s Labor, Tax, Regulatory Environment

Foreign-Invested Enterprise Staff Unimpressed with S. Korea’s Labor, Tax, Regulatory Environment

SEOUL, March 20 (Korea Bizwire) — While certain elements of day-to-day living have improved according to non-Korean staff employed at foreign-invested enterprises, there appears to be plenty of areas where South Korea can do better, as a recent KOTRA study found only 27.3 percent (300 foreigners employed at foreign-invested enterprises) expressed satisfaction with the management [...]

KOTRA to Reinforce Big Bot to Help SMEs Make Inroads Abroad

KOTRA to Reinforce Big Bot to Help SMEs Make Inroads Abroad

SEOUL, Sept. 7 (Korea Bizwire) — The state promotion agency said Thursday it will reinforce the big data platform, providing consulting to small businesses seeking business opportunities abroad that was launched earlier this year. The Korea Trade-Investment Promotion Agency (KOTRA) introduced the KOTRA Big Bot, constructed from the words big data and robot, in May [...]

S. East Asian Online Shopping Market to Grow Sharply: Report

S. East Asian Online Shopping Market to Grow Sharply: Report

SEOUL, Jun. 19 (Korea Bizwire) — Southeast Asia’s online market is expected to expand sharply backed by the region’s huge population, which serves as a good business opportunity for South Korean companies, a report showed Sunday. In the report, the Korea Trade-Investment Promotion Agency (KOTRA) said the region’s online shopping market has been growing at [...]

S. Korea’s Accumulated Investment in Vietnam Tops US$50 Billion

S. Korea’s Accumulated Investment in Vietnam Tops US$50 Billion

SEOUL, June 13 (Korea Bizwire) – The accumulated investment made by South Korean companies in Vietnam topped the US$50 billion mark as of 2016, with local businesses emerging as the No. 1 foreign investors in the Southeast Asian economy, industry data showed Monday. According to the data compiled by the Korea Trade-Investment Promotion Agency (KOTRA), [...]

South Korean Manufacturers Seek Cheap Labor, but Lack Productivity

South Korean Manufacturers Seek Cheap Labor, but Lack Productivity

SEOUL, April 4 (Korea Bizwire) – Recent data from the Korea Trade-Investment Promotion Agency (Kotra) reveals that 82 percent of local manufacturers are prioritizing seeking cheaper labor outside of the country, ultimately undermining their productivity.  Based on the business performance of 1,474 South Korean manufacturers with overseas plants, 12.6 percent fell within Kotra’s “high-cost, high-productivity” [...]