News
Korea’s inclusion in US tariff list ‘red light’ in relations with Washington
South Korea's inclusion in the United States' list of countries that could have a 53 percent tariff levied on their steel exports is a "red light" in economic relations between the two countries, the main opposition party said Monday. Imposition ... Read More
Korea signs FTA with five Central American nations
South Korea and five Central American nations signed a trade deal to lower tariffs and other barriers on a wide range of areas to expand business ties, Seoul's trade ministry said Wednesday. South Korea inked the free trade agreement with ... Read More
Lawmakers Criticize Response to GM Factory Closure and US Trade Pressure
The National Assembly's committee on trade and industry has held an emergency inquiry session on the closure of a General Motors(GM) factory in Gunsan as well as the U.S.' trade protectionist moves, including high tariffs on South Korean steel. During ... Read More
IMF predicts S. Korea’s potential growth rate could be in 2% range in 2020s
A report by the International Monetary Fund showed Sunday that South Korea's potential growth rate will hover at low 2 percent levels in the 2020s and dip to the 1 percent range in the 2030s due to various factors. The ... Read More
Korea expects slower export growth in Feb.
South Korea will take proactive measures to boost exports to keep the growth momentum going despite rising protectionist policies by major trading partners and fewer working days in February, the trade ministry said Tuesday. The Ministry of Trade, Industry and ... Read More
Korea’s trade surplus with the US drops
The United States exported record-high $48.28 billion worth of goods to South Korea in 2017, while Korea exported $71.16 billion of products to the US, data by the US Department of Commerce showed. Korea’s trade surplus consequently dropped 17 percent ... Read More
Vegetable Prices Soar ahead of Lunar New Year
Vegetable prices are soaring ahead of the Lunar New Year holidays due to the coldest weather in recent years and heavy snow on Jeju Island, the main vegetable production area in winter. According to the Korea Agro-Fisheries and Food Trade ... Read More