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S. Korea’s economy grows 4 pct in 2021, highest in 11 years

SEOUL, Jan. 25 (Yonhap) -- South Korea's economy posted the highest growth rate in 11 years as consumption and exports bounced back from the pandemic-caused slump, central bank data showed Tuesday. The gross domestic product is estimated to have grown ... Read More

S. Korea actively reviewing trans-Pacific trade pact

South Korea's trade ministry said Thursday it is reviewing joining a mega free trade pact comprising Asia-Pacific countries in line with its goal to play a leading role in trade in the region. "South Korea is considered an ideal partner ... Read More

Production, consumption, investment fall in Aug. amid 4th wave of pandemic

South Korea's trade ministry said Tuesday it has agreed with Uruguay to make joint efforts to speed up negotiations for a free trade pact with a group of South American countries. Trade Minister Yeo Han-koo plans to meet his Uruguayan ... Read More

Hyundai-LG joint battery plant breaks ground in Indonesia

Hyundai Motor Group on Wednesday broke ground on a 10 gigawatt-hour battery cell production plant in Indonesia in cooperation with LG Energy Solution, joining the global race to secure battery cells for the future. The joint factory, set for completion ... Read More

S. Korea to beef up critical metals stockpile

South Korea will drastically increase its strategic stockpiles of nickel, cobalt and other critical metals, in a bid to ensure a stable supply of raw materials vital to key industries including electric vehicle batteries and renewable energy, the government said ... Read More

S. Korea‘s biopharmaceutical exports more than double in 2020

Korea’s exports of biopharmaceutical products more than doubled in 2020 from a year earlier on the back of growing demand for pharmaceutical products amid the COVID-19 pandemic, a report showed. Outbound shipments of high-end biopharmaceutical products came to $5.1 billion ... Read More

July exports best-ever in Korea’s history

South Korea’s exports in July surged 29.6 percent to $55.4 billion on-year, a record monthly figure since the nation began compiling the data in 1956, according to the Trade Ministry Sunday. In the first seven months of this year, Korea’s ... Read More

Hyundai, LG collaborate to build EV battery plant in Indonesia

South Korea’s leading automaker Hyundai Motor Group and battery producer LG Energy Solution are joining forces to establish a $1.1 billion electric vehicle battery plant in Indonesia, the companies said Thursday. The two companies signed a memorandum of understanding with ... Read More