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Korea-Turkey FTA talks move forward
Mar 16, 2012
Ongoing negotiations for a bilateral free trade agreement between Korea and Turkey have made progress in several key areas, said the Ministry of Foreign Affairs and Trade (MOFAT) on March 11. The fourth round of talks, which took place in Seoul from March 7 to 11, settled details...

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Car insurance premiums to be reduced
Mar 02, 2012
Auto insurance premiums in Korea will be lowered by up to 5% in April. Eight insurance companies including Samsung Fire & Marine Insurance, Dongbu Insurance, and LIG Insurance recently asked the Korea Insurance Development Institute for approval of new premium rates for car...

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Need an airplane? Buy one online
Feb 24, 2012
Online shopping sites have offered consumers almost everything they could ever ask for including living necessities, fashion items, foods, furniture, and even automobiles. By clicking the “Purchase” icon now they can even buy a light aircraft. It’s not just any light airplan...

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Korean automobile companies rule Super Bowl ads
Feb 22, 2012
A commercial for the Veloster Turbo, one of Hyundai Motor Company’s automobile models, ranked seventh among the 2012 Super Bowl commercials in the consumer preference survey conducted by USA Today. Among the 15 car commercials during the Super Bowl this year, it rated as second b...

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Seoul sees enduring FDI
Feb 17, 2012
Despite the continuing global economic recession that has struck the U.S. and Europe, the amount of foreign direct investment (FDI) to Seoul Metropolitan City has been increasing.  Focusing on the service industry, investments from European countries including Malta, the ...

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Korean cosmetics record sales of over 10 trillion won
Feb 15, 2012
Sales of domestic cosmetic products in Korea exceeded 10 trillion won last year.The popularity of the Korean wave, or Hallyu, has greatly contributed to the rapid growth of the Korean cosmetic market. Korean cosmetic companies attract foreign nationals through various ...

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Incheon airport hit largest number of transfer passenge...
Feb 09, 2012
The number of transfer passengers at Incheon International Airport has rapidly increased, hitting a record high in January. The Incheon International Airport Corporation (IIAC) recently announced that the number of transfer passengers passing through the airport in January recor...

SMBA helps social enterprises
Feb 03, 2012
Social enterprises in Korea now can receive financial support from the Small and Medium Business Administration (SMBA). The SMBA, along with the Credit Guarantee Foundation and the Small and Medium Industry Bank, recently established a special guarantee for social enterprises ...

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Korea sees surplus for 22 consecutive months
Jan 31, 2012
Korea recorded a surplus of USD 27.65 billion in 2011. The current account, the sum of the balance between exports and imports, registered a surplus of USD 3.96 billion for December 2011, having been in the black for 22 consecutive months since March last year.   Accor...

Hyundai and Kia prove their competitiveness in the U.S.
Jan 26, 2012
The brand and product competitiveness of Hyundai Motor Co. and Kia Motors in the American market have received high praise. TrueCar.com, an automotive solutions provider focused on new car pricing, trends, and forecasting, recently posted the 2011 Annual Performance Scorecards f...