SEOUL, March 28 (Korea Bizwire) — The Korea Customs Service (KCS) said Friday it has launched a special unit to “preemptively” protect domestic companies from potential fallout due to the latest tariff measures by the U.S. administration. The team aims to minimize anticipated disruptions stemming from U.S. President Donald Trump’s planned reciprocal tariffs, which are [...]
SEOUL, March 26 (Korea Bizwire) – The government will join hands with export-related agencies to provide “all-out” support to South Korean companies in export business, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy held a joint conference in Seoul with various export-related agencies, including the Korea Customs Service, the Korean Intellectual [...]
WASHINGTON, March 11 (Korea Bizwire) — The U.S. nationwide cattlemen’s group asked the Trump administration Tuesday to help lift South Korea’s import ban on American beef from cattle aged 30 months or older, noting that similar curbs have been lifted in China, Japan and Taiwan. The National Cattlemen’s Beef Association (NCBA) sent its comments to [...]
WASHINGTON, March 6 (Korea Bizwire) — Experts underscored the need Thursday to crank up diplomacy to pitch South Korea’s contribution to the U.S. economy to counter President Donald Trump’s apparently negative perception of the Asian ally as a trading partner, though the absence of leader-to-leader engagement remains an onerous hurdle to that effort. They advised [...]
PESQUERIA, Mexico, March 6 (Korea Bizwire) — South Korean companies with manufacturing bases in Mexico, along with around 100 local partner firms, are struggling to deal with business uncertainties stemming from the unpredictability of U.S. President Donald Trump’s tariff policy on the neighboring country, industry officials said Thursday. Earlier in the day, Trump signed executive actions to [...]
SEOUL, March 7 (Korea Bizwire) — The government will come up with measures next month to respond to the United States’ plan to impose tariffs on auto imports, the industry ministry said Friday, as the new U.S. tariffs are expected to deal a severe blow to the South Korean automotive industry. The Ministry of Trade, [...]
WASHINGTON, March 5 (Korea Bizwire) – A top South Korean security official on Wednesday anticipated a “good” outcome from consultations between Seoul and Washington on tariff and other trade issues, highlighting the two countries’ desire for a “win-win” result. National Security Adviser Shin Won-sik made the remarks as he arrived in Washington for talks with [...]
SEOUL, March 5 (Korea Bizwire) — The escalating tariff war initiated by U.S. President Donald Trump is disrupting the decades-old global free trade system, triggering a shift toward protectionism among major economies, including China. The retreat from free trade threatens export-driven economies like South Korea, which now faces mounting challenges amid intensifying U.S.-China economic rivalry. [...]
WASHINGTON, Feb. 26 (Korea Bizwire) — South Korea’s industry minister expressed confidence Wednesday that Seoul and Washington will be able to find a “constructive” and “win-win” alternative, as the Trump administration is working to impose “reciprocal” tariffs on U.S. imports to match what other countries slap on American goods. Industry Minister Ahn Duk-geun made the [...]
INCHEON, South Korea, Feb. 26 (Korea Bizwire) — South Korea will stress the importance of bilateral cooperation in various industries, such as energy and shipbuilding, in negotiations with the United States on its new tariff plans, Seoul’s industry minister said Wednesday. Industry Minister Ahn Duk-geun made the remarks as he departed for Washington to meet [...]