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Korea braces for impact from US-China trade war

South Korea is bracing for the impact of the opening blows in the United States’ trade war with China, while playing down the possibilities of immediate setbacks. Starting Friday at 1 p.m. Korean time, the US implemented 25 percent tariffs ... Read More

US import restrictions to dent S. Korean exports

US restrictions on imports of South Korean steel, washing machines and solar cells are expected to cost Asia's fourth-largest economy more than $2.4 billion in lost exports over the coming years, a parliamentary report said Thursday. The Donald Trump administration's ... Read More

S. Korea’s consumer prices up 1.5% in June

South Korea's consumer price growth continued to stay above 1 percent in June on a rise of agricultural goods and the service sector, government data showed Tuesday. The country's consumer price index climbed 1.5 percent last month from a year ... Read More

Weakening won poses new risks to Korean economy

The weakening of the won in recent weeks carries both benefits and risks for the Korean economy that is being held back by a simultaneous downturn in investment, consumption and exports. Policymakers therefore face a thorny task to take proper ... Read More

Korea’s exports nearly flat in June

South Korea's exports exceeded $50 billion for the four consecutive months to June, but fell slightly compared with a year earlier due to high base effect and fewer working days, government data showed Sunday. Outbound shipments reached $51.23 billion last ... Read More

Rival parties stand apart over government’s drive for ‘income-led growth’

Opposition parties have ratcheted up their criticism against the government's drive for "income-driven growth" following their crushing defeat in the recent local elections, calling for an outright review on the policy. The ruling Democratic Party is defending the economic policy, ... Read More

Emerging trade war weighs on Korea’s exports

An emerging trade war between the US and China is weighing on Korea’s exports, which have been losing traction this year. A 25 percent US tariff on $34 billion worth of Chinese goods is set to take effect from July ... Read More

Gov’t to Begin Domestic Procedures for FTA Talks with Russia

The Ministry of Trade, Industry and Energy said it has agreed with Russia to immediately begin domestic procedures to launch bilateral free trade negotiations in service and investment sectors. The ministry said it signed a joint declaration with the Russian ... Read More

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