SEOUL, May 2 (Korea Bizwire) — The gap between the average wages of South Korea and China continued to narrow in 2015, industry data showed Sunday, apparently suggesting that South Korean products may be regaining their price competitiveness over their Chinese counterparts. In 2015, the average minimum wage in China’s five largest cities was 59.2 [...]
SEOUL, April 18 (Korea Bizwire) – South Korea and China will hold high-level talks this week to address difficulties faced by their businesses following the implementation of a bilateral free trade agreement last year, Seoul’s Foreign Ministry said Monday. Second Vice Foreign Minister Cho Tae-yul and Chinese Vice Commerce Minister Gao Yan will meet in Seoul Wednesday to [...]
SEJONG, April 4 (Korea Bizwire) – South Korean seafood will be exported to China under the integrated brand name of “K-Fish,” starting this month, the maritime ministry said Sunday. The K-Fish products include “gim,” or dried seaweed, oysters, sea cucumbers, brown seaweed and sea tangle, produced by six local seafood companies, according to the Ministry [...]
SEOUL, March 22 (Korea Bizwire) – The top nuclear envoys of South Korea and the United States agreed Tuesday to “actively” push for three-way consultations involving China over the implementation of new U.N. sanctions on North Korea and its denuclearization, Seoul’s Foreign Ministry said. Kim Hong-kyun, South Korea’s special representative for Korean Peninsula peace and security [...]
SEOUL, March 2 (Korea Bizwire) – The gap between South Korea’s gross domestic product (GDP) per capita and that of Japan narrowed in 2015, mainly due to Asia’s No. 2 economy continuing to wrestle with a prolonged slump, a report by a local economic think tank showed Tuesday. South Korea’s GDP, which came to US$27,226 in 2015, is equal to 84percent of the $32,432 posted by Japan, data compiled [...]
SEOUL, Feb. 12 (Korea Bizwire) - Chinese Foreign Minister Wang Yi expressed “serious concern” over a decision by South Korea to begin formal talks with the United States to adopt an advanced U.S. missile defense system, according to China’s foreign ministry on Friday. Wang conveyed the concern to South Korean Foreign Minister Yun Byung-se during their [...]
SEOUL, Feb. 7 (Korea Bizwire) – North Korea’s long-range rocket should be viewed as a ballistic missile as the satellite it put into orbit is worthless, lawmakers said Sunday, citing South Korea’s spy agency. The satellite is presumed to weigh 200 kilograms, two times heavier than a satellite launched in 2012, the lawmakers said after [...]
SEOUL/SEJONG, Feb. 3 (Korea Bizwire) – South Korea will make all-out efforts to push up exports critical for economic growth after its outbound shipments dropped at the fastest rate in more than six years in January, the trade and industry minister said Wednesday. Chairing a meeting of economy-related officials and business community leaders in Seoul, [...]
GOHEUNG, Feb. 1 (Korea Bizwire) - South Korea is on course to test launch its next-generation space rocket in late 2016 after it made headway in resolving a major technical obstacle that could have led to delays, the head of the country’s aerospace research institute said Sunday. In a meeting with reporters at the Naro Space [...]
SEOUL, Jan.20 (Korea Bizwire) – With South Korea resuming loudspeaker broadcasts against North Korea following the latter’s nuclear test, North Korea also responded with its own loudspeaker broadcasts. However, instead of pointing its speakers to the south, it is sending out broadcasts towards its own territory. According to SBS, a South Korean broadcasting network, the [...]