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 [...]
SEOUL, Aug. 18 (Korea Bizwire) – Smaller startup and emerging companies are boosting their shipments abroad despite a prolonged downturn in Korea’s export sector. According to the Korea International Trade Association (KITA), while Korea’s total exports from January to July 2016 decreased by 10.1 percent compared to the same period last year, exports by emerging [...]
SEJONG, Aug. 8 (Korea Bizwire) – South Korea opened a business center on Monday to help local firms expand trade and investment in Iran as part of its efforts to tap deeper into the Middle East country following the lifting of international sanctions, the trade ministry here said. Located in southern Seoul, the center will [...]
CHENGDU, China, July 24 (Korea Bizwire) – South Korea’s finance minister said Sunday a bilateral free trade agreement (FTA) with the European Union (EU) should be further developed despite Britain’s recent exit from the world’s biggest economic bloc. “The South Korea-EU FTA should continue to develop despite Brexit,” Finance Minister Yoo Il-ho said. The free [...]
SEOUL, July 20 (Korea Bizwire) — South Korean firms operating in Vietnam have yet to yield profits expected of the amount of investment they have made in the emerging market, a trade report released Wednesday said. South Korean companies invested an aggregate total of US$15 billion in Vietnam as of the end of last year, [...]