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Korean crafts and designs lure buyers in New York
Aug 18, 2011
Korean exhibitors at the New York International Gift Fair (Photo courtesy of the Korea Local Promotion Foundation)The New York International Gift Fair (NYIGF), one of the largest consumer shows in the United States, opened its doors on August 13, at Jacob K. Javits Convention Cen...

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Seoul FDI doubles in 1st half of the year
Aug 11, 2011
Foreign direct investment (FDI) in Seoul hit more than $1.8 billion in the first half of the year, a rise of 116 percent over the same period last year.Despite the earthquake and tsunami in Japan and the financial crisis in Europe, the city’s efforts to improve the investment env...

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More low-cost Asian airlines to launch
Aug 05, 2011
The competition among Asian airline for their share of the skies is about to get a little tougher. With the introduction of low-cost Korean airlines like Jeju Airlines and Eastarjet, overseas carriers from Singapore and Thailand have also decided to join the local low-cost flight...

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Korea to support Ghana's power grid expansion
Aug 03, 2011
Korea will support Ghana’s power grid expansion by providing a $67 million loan. According to the Ministry of Strategy and Finance, this loan will be used to construct a 185-kilometer power transmission line.The country hopes to be able to supply electrical power to most of Afric...

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Korea-Peru FTA
Aug 03, 2011
The Ministry of Strategy and Finance announced new enforcement regulations for the Free Trade Agreement between Korea and Peru on July 28 that includes tariff acts and enforcement ordinances.  The Korea-Peru FTA went into effect on August 1.Within ten years, tariffs on 11,58...

Korea’s trade surplus posts record-high growth in July
Aug 02, 2011
Korea's trade surplus exceeded $7.2 billion in July for a new monthly growth record, the Ministry of Knowledge Economy reported on August 1. Korea’s monthly export volume was more than $51.4 billion in July, a 27 percent higher growth rate than the same period last year, despite ...

Japanese hotels make headway in Korean market
Jul 29, 2011
Japanese hotel chains have begun making noticeable headway in the Korean market. One of the most prominent of these chains is Toyoko Inn, which currently has six branches nationwide.  The room designs and layouts are the same as its Japanese branches, as is the concept of l...

Hallyu helps increase popularity of Korean-made apps ov...
Jul 26, 2011
* Korean applications enter overseas markets through KT Olleh, SK's T-storeRecently, smartphone applications containing Korean cultural contents and Korean-made applications are winning popularity among users overseas.Korea’s largest mobile communication service provider, SK...

FTA boosts Korea-EU trade within 2 weeks of ratificatio...
Jul 20, 2011
After the ratification of the free trade agreement (FTA) between Korea and the European Union earlier this month, the volume of bilateral trade showed a noticeable increase in the first two weeks since the ratification of the Korea-EU free trade pact on July 1.The Korea Customs S...

Korea’s automobile exports hit record high
Jul 15, 2011
Despite high oil prices, Korea’s automobile exports hit a new record high in the first half of the year.South Korea’s automobile exports grew, thanks to strong demand from emerging economies and improved brand image, a government report said on Thursday.According to the Ministry ...