SEOUL, Dec. 15 (Korea Bizwire) – South Korea has faced increased non-trade barriers raised by foreign countries in the past few years, while such measures around the globe declined, a report said Thursday. According to the report compiled by the Korea Chamber of Commerce and Industry (KCCI), a total of 134 non-tariff measures such as [...]
SEOUL, Dec. 7 (Korea Bizwire) – Possible trade friction between the United States and China could deal a blow to South Korea’s exports, a report said Wednesday. There are concerns that U.S. President-elect Donald Trump’s looming protectionist policies could spark trade friction between the world’s two biggest economies. Trump has said he would instruct his [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korean exporters are bracing for growing protectionism as foreign countries are struggling to shield their local industries from a prolonged economic slowdown and surge in foreign imports, industry data showed Wednesday. According to the data compiled by the Korea International Trade Association (KITA), a total of 132 anti-dumping [...]
SEOUL, Nov. 30 (Korea Bizwire) – The United States’ trade policy will inevitably face various changes under the new Donald Trump administration, but unlike what many believe, the U.S. will not be seeking to reduce its trade with other countries, local experts said Wednesday. “Trump’s protectionist trade view is in fact practicalism based on his [...]
SEJONG, Nov. 14 (Korea Bizwire) – South Korea’s southeast region (Busan, Ulsan, South Gyeongsang Province), also called the “Southeast Economic Belt”, which plays an essential role as the country’s major production hub and a locus for trade, has steadily lost momentum in recent years, announced Statistics Korea Monday. According to KOSTAT, the index of industrial [...]
SEOUL, Oct. 21 (Korea Bizwire) – South Korean exports to China fell 9 percent on year last month, marking the 15th straight month of decline, data showed Friday, spawning worries that the country’s overseas shipments to the neighboring country may not recover any time soon. Shipments to China stood at US$10.96 billion in September, compared [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s exports are expected to receive a much-needed boost next year from more imports by its major trading partners including China and the United States, the Bank of Korea (BOK) said Thursday. In a report on global trade, the central bank analyzed the estimated income and import growth [...]
SEOUL, Sept. 28 (Korea Bizwire) – A recent report from the U.S. Department of Commerce highlighted South Korea’s role in creating jobs in America, indicating that the Korea-U.S. Free Trade Agreement is yielding positive outcomes despite recent criticism from Donald Trump. The Republican presidential candidate has ceaselessly condemned the trade pact as part of his [...]
SEOUL, Aug. 25 (Korea Bizwire) – South Korea’s exports to Vietnam have spiked over 10 percent so far this year, making it the world’s third-largest importer of South Korean goods, data showed Thursday. In the January-July period, shipments to Vietnam jumped 10.1 percent on-year to US$18.02 billion, according to the data from the Korea International [...]
SEOUL, Aug. 24 (Korea Bizwire) – South Korea’s deficit in the trade of intellectual property rights narrowed from a year earlier in the first quarter on the back of a sharp cut in shortfalls from industrial property rights, data showed Wednesday. In the January-March period, South Korea posted a trade deficit of US$780 million in [...]