SEOUL, Nov. 10 (Korea Bizwire) — Hanwha Ocean Co. on Monday welcomed China’s decision to suspend its sanctions on U.S. subsidiaries of the South Korean shipbuilder for one year, also expressing hope for its improved ties with Chinese partners. “We welcome the Chinese government’s decision,” Hanwha Ocean said in a statement. “We hope our relationship [...]
JEJU, South Korea, May 16 (Korea Bizwire) – The Asia-Pacific Economic Cooperation (APEC) has projected the region’s economy to grow 2.6 percent this year, sharply falling from the 3.6 percent growth in 2024, a report showed Friday. The APEC made the forecast in its latest economic report released for the Ministers Responsible for Trade Meeting, [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s state-run economic think tank on Wednesday sharply cut its growth forecast for the local economy this year to 0.8 percent, citing rising global trade uncertainties and weakening exports. The revised projection by the Korea Development Institute (KDI) represents a 0.8 percentage-point drop from its previous estimate of [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s economic outlook is growing increasingly uncertain as global trade tensions intensify, raising concerns that the country’s real GDP growth rate could fall to the mid-1% range this year. Compounding the risks of domestic political instability, the latest wave of U.S. tariff hikes on key trading partners has further [...]