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Genexine signs vaccine supply deal with Indonesia

Local vaccine developer Genexine has signed a contract with an Indonesian pharmaceutical company to supply 10 million doses of its COVID-19 vaccine candidate, the company said Tuesday. According to the firm, Indonesian pharmaceutical company PT Kalbe Farma will purchase 10 ... Read More

Auto exports rise 31% in Q1 on robust demand

South Korea’s exports of autos grew 31.4 percent on-year in the first quarter on the back of brisk shipments of sedans and eco-friendly vehicles, data showed. The country’s outbound shipments of cars came to $11 billion in the January-March period, ... Read More

South Korean exporters urged to brace for rising ocean freight rates

South Korean firms that are heavily reliant on exports should come up with diverse ways to cut down on their logistics costs amid a prolonged surge in ocean freight charges, a report suggested Friday. Ocean freight rates are rising and ... Read More

S. Korea to raise renewable energy quota

South Korea will be able to require big power generation companies to generate up to 25 percent of electricity from renewable energy sources, starting from October this year, raising the previous maximum threshold of 10 percent. The change is in ... Read More

Naver invests $150m in Indonesian media firm

Naver Corp., South Korea's top internet portal operator, said Wednesday it has made a strategic investment of $150 million in Indonesian media giant Emtek to strengthen its foothold in the Southeast Asian market. Emtek operates broadcast channels, as well as ... Read More

ICT exports record 11.5% growth to $15.3 billion in February

The Ministry of Trade, Industry and Energy announced on March 15 that outbound shipments of Korea’s information and communications technology (ICT) goods in February stood at USD 15.3 billion, recording a year-on-year growth of 11.5 percent. Imports of ICT products expanded ... Read More

Korea’s export value grows 9.5% to $44.8 billion in February

The Ministry of Trade, Industry and Energy announced on March 1 that Korea’s export value went up 9.5 percent to USD 44.8 billion in February. Imports also increased 13.9 percent to $42.1 billion. The trade balance stood at a surplus ... Read More

S. Korea retains position as 7th largest exporter in 2020

With 5.5% decline, country‘s overseas performance relatively good compared to other economies Despite the fallout from the ongoing trade dispute and COVID-19 pandemic, South Korea retained its position as the world’s seventh-largest exporter in 2020, showed data released by the ... Read More