SEOUL, Jan. 22 (Korea Bizwire) — A surge in Chinese exports is stoking tensions across the global industrial landscape, as countries worldwide grapple with an influx of low-priced Chinese goods that many say is disrupting their domestic markets. China’s customs authority reported that exports reached a record 25.5 trillion yuan in 2024, jumping more than 7% [...]
SEJONG, Jan. 13 (Korea Bizwire) — South Korea’s export landscape with China has undergone a significant transformation over the past decade, with traditional intermediate goods exports such as displays, computers, auto parts, steel sheets, and petroleum products sharply declining. Conversely, South Korea’s imports of Chinese intermediate goods, particularly battery materials, batteries, and auto parts, have [...]
SEOUL, Jan. 7 (Korea Bizwire) — Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, highlighted the pressing challenges of global economic shifts during the “2025 Seoul New Year’s Meeting” on January 6. Speaking at the Seoul Chamber of Commerce in Jung-gu, he identified three major disruptions—U.S.-led tariff hikes, inflationary [...]
SEOUL, Dec. 18 (Korea Bizwire) — The European Union (EU) has signaled a shift in its trade policy to strengthen its own industries, similar to that of the incoming U.S. administration under President-elect Donald Trump, posing challenges for export-oriented South Korean businesses, an industry report projected Wednesday. According to the report by the Korea International [...]
SEOUL, Dec. 13 (Korea Bizwire) — Trade Minister Cheong In-kyo visited Japan on Friday to meet his Japanese counterpart and discuss ways to expand bilateral economic cooperation amid global business uncertainties, Seoul’s trade ministry said Friday. Cheong held the meeting with Vice Minister for International Affairs Takehiko Matsuo in Tokyo to share opinions on achieving [...]
SEOUL, Nov. 11 (Korea Bizwire) – South Korea directed 43% of its overseas investments to the United States last year, marking the highest proportion since 1988, as bilateral trade relations reached new heights. The surge comes amid record trade surpluses with the U.S., where intermediate goods like raw materials and components account for half of South [...]
SEOUL, Aug. 23 (Korea Bizwire) — South Korea and Paraguay have signed an economic partnership agreement on trade and investment, marking the second country in South America’s Mercosur bloc to clinch such a deal, officials said Friday. Trade Minister Cheong In-kyo signed the Trade and Investment Promotion Framework (TIPF) with Paraguay during a meeting with [...]
SEOUL, Jul. 30 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it has discussed ways to broaden economic exchanges with Saudi Arabia, pledging to work closely toward the prompt implementation of a free trade pact between Seoul and the Gulf Cooperation Council (GCC). Industry Minister Ahn Duk-geun met with his Saudi counterpart, Majid bin [...]
SEOUL, Jul. 17 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it held a fresh round of trade talks with Indian officials to improve a bilateral partnership agreement. Director General of FTA Negotiations Ryu Peob-min and his Indian counterpart, Anant Swarup, started the three-day session in Seoul to discuss the agenda, including goods, services [...]
SEOUL, Jul. 5 (Korea Bizwire) – The widening interest rate gap between Japan and the United States has led to a “super weak yen” phenomenon, creating an unexpected hurdle for South Korea’s previously robust export sector. As the U.S. maintains high interest rates, the dollar continues to strengthen, but the yen’s value has fallen more sharply [...]