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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...

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What were the main economic concerns of Korea in 2011?
Dec 23, 2011
The LG Economic Research Institute announced on December 18 that six out of the eleven most-searched keywords on the Internet this year in Korea were related to the economy. It analyzed the top 4,500 keywords on Korean Internet news websites with help from the portal website Daum...

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The number of Korean companies in South Africa increase...
Dec 20, 2011
The number of Korean companies advancing into the South African market is rapidly increasing. According to the Korean Trade Council in South Africa, seven Korean companies have registered with the council this year, bringing the total number of member companies of the council to ...

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Incheon International Airport extends wings abroad
Dec 08, 2011
Incheon International Airport (www.airport.kr) keeps setting new records in aviation service awards. On December 1, the U.S.-based travel magazine Global Traveler (www.globaltravelerusa.com) listed Incheon Airport as the “Best Airport in the World,” bringing the Korean airpo...