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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...

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Economic Prospects for 2012: Korea benefits from free t...
Jan 20, 2012
Amid growing uncertainties and the struggling economic landscape of the world, Korea remains one of the few sound spots with a relatively positive outlook and potential growth rate in 2012, backed up with firm policy initiatives behind the smoldering global financial crisis. On J...

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The new trend in Korea: Half-priced products
Jan 17, 2012
The competition among retailers in Korea to lower prices has intensified. Starting with eliminating distribution channels, retailers now produce private brand (PB) products to offer products at lowest prices. Large discount stores such as E-mart and Lotte Mart have started sellin...

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Small and medium companies welcome KORUS FTA
Jan 12, 2012
It seems that small and medium enterprises in Korea are welcoming the ratification of the Korea-U.S. Free Trade Agreement (KORUS FTA). Since over 80% of small and medium manufacturers in Korea work under a supply contract with larger conglomerates, it looks like the chances for t...

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The most expensive commercial real estate in Korea?
Jan 12, 2012
Cheongpyeonghwa Market has been estimated as Korea’s most expensive commercial real estate. According to the standard market price of commercial buildings and officetels announced by the National Tax Service Korea on December 28, the standard market price of Cheongpyeonghwa Marke...

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‘Made in Korea’ finding new markets
Jan 05, 2012
As K-pop and Korean culture continue to connect with audiences across the globe, Korean products too are finding their place in the international market.In November 2011, the Korea Agro-Fisheries Trade Corporation’s monthly magazine Agra Food compiled a list of the world’s top te...

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Applying for a credit card becomes stricter
Jan 04, 2012
Policies and criteria for issuing credit cards have become stricter. Those who apply for a credit card in Korea now must have a credit rating of at least 6 and be over 19 years old.  On December 26 the Financial Services Commission (FSS) announced its new measures for ...

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Koreans keen on imported coffee
Jan 02, 2012
The demand for coffee in Korea drove the year’s coffee imports to a record high. According to the Korea International Trade Association (KITA), total sales from coffee imported to Korea from January 2011 to October 2011 amounted to a record 508 million dollars.Coffee imports, whi...

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Korean economic evaluation and outlook for 2012
Dec 26, 2011
Despite the efforts to repair the global economy, reformation remains uncertain and unstable; moreover, risks and challenges were on the rise in 2011. The financial crisis that began in Greece spread across Europe and other developed countries. Developing nations that seemed in r...