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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 ...

Ripe coffee berries
Jul 15, 2011
Staff harvesting red ripe coffee berries from hundreds of trees at Korea's first commercial coffee plantation in Gangnueng, Gangwon Province. (Photo: Yonhap News)By Jessica Seoyoung ChoiKorea.net Staff Writer

Prepaid card launched for foreign visitors
Jul 15, 2011
A Korean card company launched the worlds’ first prepaid card that automatically refunds internal taxes to foreign visitors. Shinhan Card announced on July 11 that it launched the “Shinhan Love Korea Gift/Prepaid Card” on July 12. In order to get back the locally paid Korea...

Korean Expo 2011 introduces new products and partnershi...
Jul 12, 2011
The first ever Korean Expo 2011 was successfully finished up its run at the Sandton Convention Center in Johannesburg, South Africa, on July 6. Organized by the Ministry of Knowledge Economy of Korea and the Korean Trade-Investment Promotion Agency (KOTRA), the Expo explored...