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S. Korean Firms Face Protectionism in Major Markets: KITA

S. Korean Firms Face Protectionism in Major Markets: KITA

SEOUL, Jun. 13 (Korea Bizwire) — South Korean companies are increasingly facing protectionist measures in major export markets such as the United States and China, the state trade promotion agency said Monday. A total of 30 countries have taken import restrictive measures against South Korean-made products, largely steel and metal goods, or have engaged in [...]

KORUS FTA Cancellation to Hurt U.S. Firms More than S. Korean Counterparts: KIET

KORUS FTA Cancellation to Hurt U.S. Firms More than S. Korean Counterparts: KIET

SEOUL, Jun. 5 (Korea Bizwire) — The cancellation of the free trade agreement (FTA) between Seoul and Washington will be more detrimental to U.S. companies than their South Korean counterparts, a local think tank said Sunday. According to the Korea Institute for Industrial Economics and Trade (KIET), if the South Korea-U.S. pact (KORUS) is nullified [...]

South Korean Economy Safe but Exposed to Risks: Report

South Korean Economy Safe but Exposed to Risks: Report

SEOUL, May 29 (Korea Bizwire) – The latest report from the Hyundai Research Institute has revealed that South Korea is relatively safe from economic crisis, but warns that a dependency on trade with high-risk nations must not be overlooked.  The report evaluating the vulnerabilities of 26 developing economies around the world categorized the countries using [...]

Aftereffects of THAAD Row to Linger in S. Korea and China

Aftereffects of THAAD Row to Linger in S. Korea and China

SEOUL, May 4 (Korea Bizwire) — South Korea and China will both be hurt economically by the fallout caused by the deployment of the advanced U.S. missile defense system on the Korean Peninsula, a local think tank said Wednesday. According to the Hyundai Research Institute (HRI), Beijing’s retaliation against Seoul’s decision to station a Terminal [...]

Trump to Sign Executive Order Directing Comprehensive Review of Major Causes of Trade Deficits

Trump to Sign Executive Order Directing Comprehensive Review of Major Causes of Trade Deficits

WASHINGTON, March 31 (Korea Bizwire) — U.S. President Donald Trump will sign an executive order directing a comprehensive review of major sources of trade deficits, officials said, as they named South Korea one of the 16 countries the U.S. runs large deficits with. The executive order calls for the Department of Commerce and the U.S. [...]

Potential Losses from Chinese Trade Sabotage May Hit US$20 Bln: Report

Potential Losses from Chinese Trade Sabotage May Hit US$20 Bln: Report

SEOUL, March 22 (Korea Bizwire) – The South Korean economy might suffer some US$20 billion in losses in trade with China in the future, if the diplomatic dispute over Seoul’s installation of a U.S. anti-missile system further escalates, a report showed Wednesday.  Tension is rising between the two countries after Beijing took aggressive steps to [...]

France Will Continue Collaboration With S. Korea’s Next Government: Minister

France Will Continue Collaboration With S. Korea’s Next Government: Minister

SEOUL, March 20 (Korea Bizwire) – The French minister for government reform said Monday his nation will maintain its cooperative relationship with South Korea regardless of the result of the upcoming presidential election here. “France wants the best possible relationship with South Korea … the subjects for desired bilateral cooperation include every issue ranging from tourism, [...]