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Economists warn of increasing downside risks facing Korea’s exports

A protracted slump in South Korea’s exports might set in next year and jolt the country’s economy, which has relied on outbound shipments for growth amid sluggish domestic demand, economists say. Reports released last week by the Ministry of Economy ... Read More

Some big biz still asking SMEs to provide know-how ahead of contracts: report

Some South Korean big businesses are still asking smaller partners wanting to secure deals to submit technical know-how before the signing of a contract, a report by a local trade federation said Sunday. According to the Korea Federation of Small ... Read More

GS Retail unveils ‘smart convenience store’

GS Retail Co., a major South Korean retailer, said it opened a "smart convenience store" using a face recognition system and other technologies Monday amid local retail firms' race to automation. The company launched its convenience store chain GS25 outlet ... Read More

LG Chem takes over US-based automotive adhesive maker Uniseal

LG Chem, a leading South Korean battery and chemical company, announced Wednesday that it acquired an American automotive adhesive maker as part of efforts to enhance the portfolio of its automotive material business. The Korean firm purchased a 100 percent ... Read More

President Jokowi, S. Korea`s Moon Jae-in Sign 6 MoU

President Joko `Jokowi` Widodo and South Korean President Moon Jae-in signed six memoranda of understanding at the meeting in Changdeokgung, Seoul on Monday, Sept. 11. “I and the delegates are thankful that we were warmly welcomed,” said Jokowi in a ... Read More

S. Korea, Indonesia to Expand Economic Cooperation in Diverse Fields

The South Korean government will step up cooperation with Indonesia in the fields of manufacturing, infrastructure and business startups. The Ministry of Trade, Industry and Energy says Minister Paik Un-gyu held talks with visiting Indonesian President Joko Widodo on Monday during a forum ... Read More

Revised FTA to curb overuse of legal dispute by foreign investors

Korea’s revised free trade deal with the US unveiled by the government late Monday included the revision of investor-state dispute settlement, in a move to curb the excessive use of lawsuits by foreign investors against the government. This may prevent ... Read More

Indonesian president due in Seoul next week for summit with Moon

Indonesian President Joko Widodo will visit South Korea next week for a summit with President Moon Jae-in, which will focus on ways to enhance the countries' bilateral cooperation, Moon's presidential office Cheong Wa Dae said Monday. The Indonesian leader will ... Read More