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KITA pledges efforts to boost Korea's exports
A local association of exporters in South Korea on Thursday vowed all-out efforts to boost the country’s exports this year, despite what it called many lingering risks at home and abroad. “The ongoing political turmoil continues to have a great impact on our economy and exports,” said Kim In-ho, head of the Korea International Trade […]
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Korea to expand FTA network to offset US protectionism
South Korea’s policymakers are scrambling to cope with rapid changes in global trade conditions as new US President Donald Trump has put into practice his protectionist pledges. Measures drawn up at their meeting last week focused on expanding the country’s network of free trade agreements with the rest of the world, increasing imports from the […]
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Korea’s exports grow for three straight months
Korea’s exports grew for a third consecutive month in January to show the first double-digit growth in four years, preliminary data showed on Wednesday, offering hope to the country’s ailing economy. In January, the country’s exports jumped 11.2 percent on-year, the first double-digit growth since January 2013, by logging $40.3 billion, according to the Ministry […]
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SKT tests China’s Huawei LTE equipment amid controversy
South Korea’s No. 1 mobile carrier SK Telecom has purchased Long Term Evolution network equipment produced by China’s Huawei Technologies for testing before signing a final deal, amid concerns over hacking risks and Korean suppliers losing competitiveness, according to sources Sunday. An industry source familiar with the matter told The Korea Herald that SKT ordered […]
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Trump's security adviser casts bright future for Seoul-Washington alliance
US National Security Advisor Mike Flynn on Sunday held a phone conversation with his South Korean counterpart Kim Kwan-jin, expressing hope over the development of the Seoul-Washington alliance. South Korea’s presidential office said Flynn suggested that the two countries maintain close ties on key security issues. Kim also congratulated US President Donald Trump for his […]
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Korean shares climb high on foreign buying
South Korean shares continued to advance on large cap gains and foreign buying to reach a new high in over 18 months Thursday. The local currency also significantly gained ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index added 11.97 points, or 0.58 percent, to 2,087.14, breaching the 2,080 mark for the […]
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Samsung BioLogics eyes multiple supply deals
Samsung BioLogics is in discussions with over 15 global pharmaceutical firms on multiple supply deals, the company’s CEO said, as the biopharmaceutical unit of South Korea’s Samsung Group expands its presence in the global pharmaceutical market. “Samsung BioLogics already inked deals worth US$2.9 billion with six global pharmaceutical firms to supply a total of nine […]
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Korea's finance minister meets with Wall Street heavyweights
South Korea’s finance minister met with leaders of global investment banks in Wall Street to brief them on the country’s recent economic situations and its fiscal policy road map, his office here said Wednesday. In a meeting with Goldman Sachs CEO Lloyd Blankfein in New York on Tuesday (US time), Finance Minister Yoo Il-ho stressed […]
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Flynn likens Korea-US alliance to 'sticky rice cake'
Incoming US National Security Advisor Mike Flynn vowed to further strengthen the US alliance with South Korea, likening the relationship to a “sticky rice cake,” an official said Tuesday. Sticky rice cake is often used as a metaphor for an inseparable bond in Korean culture. Flynn made the remark when he met with his South […]
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KOICA to expand collaboration with private sector to boost ODA financing
outh Korea’s official development assistance operator KOICA said Tuesday that it will strengthen partnership with the private sector to boost financing for its development aid programs for emerging countries. “The international community is putting emphasis on partnership with the private sector as a means of procuring financial sources for the development (of needy countries),” said […]
