SEOUL, June 16 (Korea Bizwire) – South Korea said Wednesday that its free trade agreement with Colombia will take effect next month, a move expected to further boost bilateral trade. Colombia informed South Korea earlier in the day that it has completed the ratification process of the deal clinched in 2013, the Ministry of Trade, [...]
SEJONG, June 13 (Korea Bizwire) – South Korea will launch official talks on a bilateral trade agreement with Israel later this month to discuss ways to boost economic and investment exchanges, the trade ministry here said Monday. The Ministry of Trade, Industry and Energy said the first round of negotiations will be held on June [...]
SEJONG, Feb.1 (Korea Bizwire) - North Korea’s trade with China dipped nearly 15 percent last year apparently due to a chilly bilateral relationship between the two neighboring countries, a report showed Sunday. The North-China trade volume reached US$4.9 billion in the January-November period, down 14.8 percent from $5.76 billion a year earlier, marking the first double-digit [...]
SEOUL, Dec. 4 (Korea Bizwire) - The ratification of a free trade pact with China will give hope to South Korean exporters struggling to expand market presence abroad, the country’s top economic policymaker said Friday. Chairing a fiscal policy meeting in Seoul, Finance Minister Choi Kyung-hwan said that the free trade agreement (FTA) approved by the [...]
SEOUL, Dec. 2 (Korea Bizwire) - South Korea’s trade surplus in the ICT segment outpaced those of members of the Organization for Economic Cooperation and Development (OECD) in the first half, data showed Wednesday, posting robust performances despite the global economic slump. According to the data compiled by the Institute for Information & Communications Technology Promotion, [...]
SEOUL/SEJONG, Nov. 30 (Korea Bizwire) – The ratification of the free trade pact with China is expected to breathe new life into South Korea’s sagging exports and fuel the country’s growth, local observers said Monday. The bilateral free trade agreement (FTA), signed on June 1 and now passed by the National Assembly, will make South [...]
SEOUL, Nov.16 (Korea Bizwire) – As the market for direct purchase products from overseas continues to show dramatic annual growth, it is estimated that by 2020 the annual trade volume will exceed $20 billion. Researcher Kim Gwang-seok from the Hyundai Research Institute (HRI) emphasized the need to establish policies that respond to the changing market, [...]
SEOUL, Oct. 16 (Korea Bizwire) – South Korea’s exports are expected to continue to decline in the remainder of the year amid low oil prices and a slowing Chinese economy, a poll showed Friday. The country’s leading export sentiment index came to 48.6 for the October-December period, down 3.3 points from the previous quarter, according [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s trade volume is forecast to hit a five-year low this year as a stronger local currency and low oil prices weigh heavily on Asia’s fourth-largest economy, data showed Friday. The country’s exports reached US$268.7 billion in the first six months of the year, down 5.1 percent from [...]
SEJONG, June 1 (Korea Bizwire) — South Korea’s exports dropped significantly in May from a year earlier though its trade surplus expanded as imports shrank at a faster rate, the government said Monday. In May, the country’s overall outbound shipments came to US$42.39 billion, down 10.9 percent from the same month last year. May marked [...]