SEJONG, Dec. 24 (Korea Bizwire) — South Korea’s Cabinet on Tuesday approved a plan to lower tariff rates on 77 products next year to bolster the country’s industrial competitiveness and stabilize prices of domestic goods. The products covered by a tariff quota include crude oil, liquefied natural gas and cobalt sulfate, a key ingredient in [...]
SEOUL, SOUTH KOREA, Dec. 9 (Korea Bizwire) - South Korea’s trade is set to experience moderate growth in the machinery and technology industries, offering some optimism amidst a continuing trade for the three-month period ending in January 2020, according to data from the DHL Global Trade Barometer released by DHL, the world’s leading logistics company. The [...]
SEOUL KOREA, Oct. 8 (Korea Bizwire) - In the face of an overall decrease in trade outlook and a three-point contraction in air trade, South Korea’s ocean trade is set to buoy the country’s trade prospects over the next three months, according to data from the DHL Global Trade Barometer released by DHL, the world’s leading [...]
SEOUL, Jul. 19 (Korea Bizwire) — Amid a tentative truce in the U.S.-China trade war, another potentially calamitous conflict is looming between two other key players in the global economy and regional security — South Korea and Japan — with trade weaponized as well. Often prickly Seoul-Tokyo relations are at the worst level since the [...]
SEOUL, SOUTH KOREA, Jul. 9 (Korea Bizwire) – South Korea’s trade outlook retains some cause for optimism despite continued deceleration both air and ocean trade, according to latest data from the DHL Global Trade Barometer. The DHL Global Trade Barometer, an early indicator of global trade developments calculated using Artificial Intelligence and Big Data, suggests [...]
SEJONG, Jan. 11 (Korea Bizwire) — South Korea’s finance minister called Friday for an exemption from U.S. tariffs on South Korean automobiles as he expressed deep concerns about an ongoing U.S. probe. Hong Nam-ki, the minister of economy and finance, made the appeal in a meeting with U.S. Ambassador to South Korea Harry Harris at [...]
PORT MORESBY, Papua New Guinea, Nov. 15 (Korea Bizwire) — Business leaders across Asia Pacific remain confident that their companies revenues will grow over the next 12 months despite increasing trade frictions. In its latest survey of 1189 business leaders across the 21 Asia-Pacific Economic Cooperation (APEC) economies, PwC found that 35% were very confident [...]
SEOUL, KOREA, Jul. 4 (Korea Bizwire) — South Korea’s trade growth has been predicted to surge with a significant increase by 5 points, according to data from the DHL Global Trade Barometer released by DHL, the world’s leading logistics company. The country’s overall index has increased to 74 points, from 69 points in the last [...]
SEJONG, June 23 (Korea Bizwire) – South Korea’s deficit in the tourism balance with European Union countries rose 36 percent in 2017 from a year earlier, central bank data showed Saturday, as a growing number of South Korean travelers visited European countries. South Korea’s tourism deficit with the EU came to US$5.46 billion in 2017, [...]
SEOUL, Jun. 23 (Korea Bizwire) — Korea’s trade deficit with the United Stated in the service sector reached a new high last year, while the nation’s goods surplus with the world’s largest economy hit a five-year low. According to the data released by the Bank of Korea on Thursday, Korea recorded a loss of $15.4 [...]