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 [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s terms of trade rose for the fifth consecutive month in April as export prices rose while import prices fell, central bank data showed Tuesday. The country’s net terms-of-trade index for goods — a gauge of overall trade terms — improved 5.2 percent last month from a year [...]
SEOUL, Apr. 26 (Korea Bizwire) — Trade Minister Cheong In-kyo said Friday he expects exports to rise for the seventh consecutive month in April, helped by a recovery of chip shipments. “In April, exports are expected to maintain growth for the seventh consecutive month on the back of robust shipments to the U.S., China and [...]
SEOUL, Apr. 18 (Korea Bizwire) — Senior trade officials from South Korea and the United States discussed preparations for the upcoming three-way talks of industry chiefs with Japan, Seoul’s industry ministry said Thursday. The discussion was made as Deputy Minister for Trade Yang Byeong-nae met with officials from the U.S. Department of Commerce and the [...]