trade
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Politics
South Korea’s exports largely unaffected by Mideast tension
Seoul: South Korea said Friday the lingering uncertainties in the Middle East sparked by U.S.-Iran tensions are expected to have only a limited impact on its exports but vowed swift countermeasures if there is increased volatility. The Ministry of Trade, Industry and Energy organized a meeting with related institutions, including…
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Business
South Korea remains Japan’s third largest trade partner despite export curbs
Seoul: South Korea remained Japan’s third-largest trading partner in July, despite Tokyo’s restrictions on exports to Seoul, data showed Monday. According to the data by the Korea International Trade Association (KITA), Japan exported some 4.8 trillion won (US$4 billion) worth of goods to South Korea in July, accounting for 6.6…
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Business
Seoul files complaint with WTO over Tokyo’s export curbs
Seoul: South Korea filed a complaint with the World Trade Organization (WTO) on Wednesday over Japan’s export curbs, upping the stakes in the unprecedented trade row between the two Asian neighbors. The move came more than two months after Tokyo started restrictions of exporting three key industrial materials to Seoul,…
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Business
Seoul may strip Japan of trusted trade partner status next week
Seoul: South Korea may officially remove Japan from its list of trusted trading partners as early as next week, upping ante in the trade dispute between the two Asian neighbors, the country’s trade ministry said Monday. The tit-for-tat move follows Japan’s removal of South Korea from its own whitelist of…
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Business
South Korea to remove Japan’s trusted trade partner status in September
Seoul: South Korea is expected to put into effect its decision to drop Japan from a list of trusted trading partners later this month, Seoul’s trade ministry said Sunday amid a growing trade row between the two Asian neighbors. Early this month, the Seoul government decided to revamp the…
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Business
South Korea voices willingness to talk with Japan over its ‘whitelist’ move
Seoul: South Korea has notified Japan in advance of its plan to remove Tokyo from its list of trusted trading partners and is willing to talk with Japan further if needed, the trade minister said on Saturday. South Korea decided on Monday to remove Japan from its “whitelist” of…
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East Asia
Moon urges innovative growth to counter Japan’s trade pressure
President Moon Jae-in said Monday his government will redouble its push for innovative growth in South Korea’s manufacturing sector, especially by nurturing globally competitive startups, as part of a long-term response to Japan’s trade pressure. He pointed out that Tokyo’s export restrictions have added to the economic troubles facing Asia’s…
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East Asia
China’s foreign trade maintains strong momentum
China’s foreign trade has kept momentum for stable growth with ever stronger internal driving forces amid complex external environment and uncertainties. The China Import and Export Fair, the country’s largest trade fair, concluded its 125th session on May 5 in Guangzhou, capital of south China’s Guangdong Province. The fair is…
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East Asia
China’s foreign trade up 4.3% in first four months
China’s foreign trade saw steady development and its structure has been improved in the first four months of this year as the sector seeks high-quality growth. The country’s foreign trade of goods grew 4.3 percent year on year during this period to 9.51 trillion yuan ($1.41 trillion), customs data showed.…
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East Asia
China to seek stable, better-structured trade in 2019: commerce minister
China will take a string of measures to promote stable and higher quality growth of foreign trade this year, said Zhong Shan, China’s Minister of Commerce at a press conference for the second session of the 13th National People’s Congress (NPC) on March 9. The minister hailed China’s trade performance in…
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