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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” [...]

Vietnam Slaps Anti-dumping Duties on S. Korean Galvanized Steel Products

Vietnam Slaps Anti-dumping Duties on S. Korean Galvanized Steel Products

HANOI, Apr. 3 (Korea Bizwire) — Vietnam’s decision to slap anti-dumping duties on galvanized steel products from South Korea could hurt efforts to expand market presence in the key Southeast Asian country, industry sources in Hanoi said Sunday. According to the Korea Trade-Investment Promotion Agency (KOTRA), Vietnam will be levying stiff import duties on South Korean [...]

S. Korean Steel, Chemical Products Becoming Targets of Import Restrictions: KOTRA

S. Korean Steel, Chemical Products Becoming Targets of Import Restrictions: KOTRA

SEOUL, Feb. 8 (Korea Bizwire) – South Korean steel and chemical products, the country’s leading export items, have increasingly become targets of import restrictions in other countries, a trade agency said Wednesday.  Reports sent in by overseas offices of the Korea Trade-investment Promotion Agency (KOTRA) showed that of the 19 new investigations launched against products [...]

‘Trumpnomics’ to Offer Different Opportunities for S. Korean Firms: Experts

‘Trumpnomics’ to Offer Different Opportunities for S. Korean Firms: Experts

SEOUL, Nov. 30 (Korea Bizwire) – The United States’ trade policy will inevitably face various changes under the new Donald Trump administration, but unlike what many believe, the U.S. will not be seeking to reduce its trade with other countries, local experts said Wednesday.  “Trump’s protectionist trade view is in fact practicalism based on his [...]

Korean Ramyeon Becomes More Popular in Taiwanese Market

Korean Ramyeon Becomes More Popular in Taiwanese Market

SEOUL, Nov. 3 (Korea Bizwire) — Ramyeon, Korean instant noodles, have succeeded in captivating consumers in Taiwan, where its local brands of the food are becoming more popular in the market, South Korea’s trade agency said Thursday. According to the Taipei office of the Korea Trade-Investment Promotion Agency (KOTRA), Shin Ramyun, a spicy version of [...]

Korean Trade Agency Chooses 12 Global Trends for 2017

Korean Trade Agency Chooses 12 Global Trends for 2017

SEOUL, Nov. 1 (Korea Bizwire) – The Korea Trade Promotion Corporation (KOTRA) released a book titled 2017 Global Trends that Will Excite Korea (translated) on Tuesday, highlighting 12 trends to look out for in 2017.  KOTRA anticipated Future Food, foodstuff that steps outside the conventional diet (such as space food); Daily Detox, finding repose in [...]

Vietnam Becoming Big Market for Korean Ginseng

Vietnam Becoming Big Market for Korean Ginseng

SEOUL, Nov. 1 (Korea Bizwire) – Vietnam has become the largest importer of Korean ginseng in Southeast Asia, a market that China is aggressively chasing to erode Korea’s lead, a trade group said Tuesday.  According to the Ho Chi Minh office of the Korea Trade-Investment Promotion Agency (KOTRA), South Korea exported 1,362 tons of ginseng [...]

Industry Collaborates with Character Artists for Household Items and Accessories

Industry Collaborates with Character Artists for Household Items and Accessories

SEOUL, Aug. 24 (Korea Bizwire) – In the face of Korea’s fast growing kidult (kid + adult) market, KOTRA (Korea Trade-Investment Promotion Agency) is hosting a special exhibition from August 24 to September 14 entitled ‘Call! Bravo Life Exhibit’ at its headquarters in Seocho. The exhibition features the works of 20 small and medium-sized enterprises [...]

K-food Boom Catches on Outside of Usual Customer Groups

K-food Boom Catches on Outside of Usual Customer Groups

SEOUL, Jul. 18 (Korea Bizwire) — From instant noodles to bread and beef broth soup, Korean food is gaining interest overseas from consumers outside of the usual group of Korean residents and a handful of Korea followers, a leading trade body said Monday. South Korea’s instant noodles, ramyeon, ranks second after Taiwan in the Chinese [...]