News
Trade figures veil weakening competitiveness
Impressive trade figures logged by Korea this year have veiled the weakening competitiveness of its major manufacturing industries, analysts here say. The country’s outbound shipments in the first 11 months of the year reached a record-high $524.8 billion, up 16.5 ... Read More
Seoul expects US pressure on auto, steel in FTA talks
South Korea’s Trade Ministry said Monday that it will seek to start talks with the United States on amending the bilateral free trade deal as early as within a month, and take guard against Washington’s anticipated pressure in the auto ... Read More
Corporate activity hampered by steep rise in costs
Concerns are growing that a steep rise in corporate costs to be incurred by the Moon Jae-in administration’s anti-business policies will hold back companies from increasing investment and employment. Korean businesses are now bracing for a corporate tax hike, a ... Read More
S. Korea 4th easiest in world to do business
South Korea ranked No. 4 among the easiest places in the world to do business, according to the “Doing Business 2018: Reforming to Create” report released by the World Bank. New Zealand was No. 1, followed by Singapore and Denmark. ... Read MoreKorea’s annual trade volume tops $1trillion
South Korea's annual trade volume surpassed the $1 trillion mark for the first time in three years, driven by upbeat exports of memory chips and petrochemical products, the government said Thursday. The total amount of trades by Asia's fourth-largest economy ... Read More
Tariff on LNG imports faces backlash from energy firms
South Korean energy companies are resisting a recent government decision to impose a huge tariff on steel giant POSCO for its imports of low-priced liquefied natural gas, industry sources said Tuesday. The backlash comes after the Korea Customs Service informed ... Read MoreHyundai Motor to set up commercial vehicle joint venture in Indonesia
South Korea’s Hyundai Motor signed a business deal to set up a commercial vehicle joint venture with Indonesia’s Artha Graha Group to tackle the Southeast Asia market, the company said Tuesday. The joint venture marks the first outcome in the ... Read More