SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s auto industry breathed a sigh of relief on Wednesday after the United States agreed to lower tariffs on Korean vehicles, a move that removes a major trade irritant and strengthens a deal underpinning Seoul’s $350 billion investment pledge in the American economy. The announcement followed a summit between [...]
GYEONGJU, South Korea, Oct. 29 (Korea Bizwire) – South Korea and the United States announced a finalized tariff agreement on Wednesday, ending months of contentious negotiations and signaling a deepening phase in their industrial partnership. President Lee Jae Myung and President Donald Trump confirmed the deal during talks held on the sidelines of the Asia-Pacific Economic [...]
SEOUL, Sept. 1 (Korea Bizwire) — Uncertainty surrounding the United States’ trade policy alone is estimated to reduce South Korea’s economic growth rate by about 0.13 percentage point this year, the central bank said Monday. In late July, Seoul and Washington reached a crucial agreement in which the U.S. imposes a 15 percent tariff on [...]
SEOUL, Aug. 22 (Korea Bizwire) — More than half of middle market enterprises (MMEs) in South Korea are calling for government-led financial and tax support to ease their burdens from U.S. reciprocal tariffs, a survey showed Friday. According to the Federation of Middle Market Enterprises of Korea (FOMEK), which conducted the survey on 123 exporting [...]
SEOUL, Aug. 6 (Korea Bizwire) — South Korea’s finance chief said Wednesday that the country’s Free Trade Agreement (FTA) with the United States remains effective, despite a recent tariff agreement between the two countries. Finance Minister Koo Yun-cheol made the remarks during a parliamentary session, following last week’s last-minute deal between Seoul and Washington. Under [...]