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 [...]
SEOUL, Feb. 6 (Korea Bizwire) - South Korea’s high-tech industry — a powerhouse of both innovation and export production — will add fire to the country’s trade growth in the coming quarter, according to analysis from the Global Trade Barometer released today by DHL, the world’s leading logistics company. The first ever Global Trade Barometer, an [...]
SEJONG, Aug. 23 (Korea Bizwire) — South Korea’s exports to Vietnam surged nearly 50 percent in the first seven months of 2017, customs data showed Wednesday, an increase that is likely to put the Southeast Asian country among the top three shipment destinations for locally made goods. According to Korea Customs Service, exports to Vietnam [...]
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 [...]
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 [...]