SEOUL, Aug. 5 (Korea Bizwire) – Samsung Electronics Co. is greatly increasing its lobbying efforts in the United States amid a rise in protectionist trends under the Donald Trump administration, industry sources said Sunday. Sources said the world’s largest maker of semiconductors and smartphones is relocating its Washington, D.C. office right next to Capitol Hill [...]
SEOUL, Jun. 13 (Korea Bizwire) — Escalating global protectionism, sparked by a Sino-American trade war, has put corporate Korea in a tight spot as it is feared to take a toll on exports, a key growth engine for Asia’s fourth-largest economy, industry sources said Friday. The United States and China, the world’s two largest economies, [...]
SEOUL, Mar. 26 (Korea Bizwire) — South Korea’s trade ministry said Monday it will beef up staff tasked with trade negotiations and disputes to better deal with the rising protectionism by major trading partners and help companies diversify into new markets. The Ministry of Trade, Industry and Energy said its reorganization plan received approval from [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korea’s top conglomerate Samsung Group spent a record amount lobbying U.S. politicians and officials in 2017 to counter Washington’s growing protectionism and other negatives, market sources said Monday. Last year, the Trump administration stepped up its protectionist policy, and Samsung Electronics Co., the group’s crown jewel, was implicated [...]
SEOUL, Jan. 12 (Korea Bizwire) – The number of regulatory measures enacted against South Korean exports is on the rise, menacing the lifeblood of the South Korean economy. According to the Ministry of Foreign Affairs on Friday, regulatory measures such as antidumping tariffs, countervailing duties and safeguards imposed on South Korea exports increased to 189 [...]
SEOUL, Dec. 25 (Korea Bizwire) — South Korea’s trade ministry and local steelmakers have discussed ways to cope with the United States’ growing trade protectionism including adjusting steel exports, officials said Monday. The ministry held a meeting with trade experts and local steelmakers, including top player POSCO and its rival Hyundai Steel Co., on Thursday [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s economic growth ranking among major advanced and emerging economies plunged 10 spots in the second quarter from three months earlier as its recovery lost ground, data showed Tuesday. Asia’s fourth-largest economy expanded 0.6 percent on-quarter in the April-June period, compared with a 1.1 percent expansion for the [...]
SEOUL, March 13 (Korea Bizwire) – A majority of South Korean businesses in the United States expect additional difficulties down the road due to what many view as protectionist trade policies of the new U.S. administration, a survey showed Monday. More than 7 out of every 10 respondents said they were already facing difficulties in [...]
SEJONG, Feb. 14 (Korea Bizwire) – South Korea and Southeast Asian countries agreed to speed up negotiations to upgrade their free trade agreement, Seoul’s trade ministry said Tuesday, amid rising fears over trade protectionism. Seoul has been in talks with the 10 Association of Southeast Asian Nations (ASEAN) to improve the FTA, which took effect [...]
SEOUL, Dec. 23 (Korea Bizwire) – Executives from Hyundai Motor Group have expressed concerns for 2017, mainly from the stagnant global automotive industry and a strong comeback from Japanese automakers buoyed by the low Japanese yen. During a seminar on Thursday outlining the global automotive industry prospects for 2017 hosted at company headquarters in southern [...]