Sales of Lotte Mart, the discount store chain of South Korean retail giant Lotte, in China dropped nearly 65 percent in the first eight months of this year in the face of Beijing's retaliation over Seoul's installation of a U.S. anti-missile system, data showed Friday.According to the data p
South Korea's economic recovery momentum remains feeble as weak domestic demand such as private consumption offset strong overseas sales, a government report said Friday."The South Korean economy has been maintaining an upturn pace on the back of brisk exports and recovering global demand, but
The South Korean economy is strong enough to ward off a financial crisis and reach 3 percent growth this year amid rising geopolitical tensions, a senior government official said Thursday."Due to escalating North Korean risks, some are concerned that the South Korean economy will be adversely affec
South Korea imposes emission standards on eight private coal power plants under construction that are stronger than those in Germany and Japan, a report said Wednesday.The government has set the permissible sulfur oxide emission level at 15 ppm, which compares with 39 ppm for Japan and 70 ppm for Ge
The South Korean government vowed Wednesday to work with Samsung Electronics Co. and LG Electronics Inc. to defend washers made by the two companies in the U.S. market, where they could be subject to tough safeguard measures.The trade and foreign ministries held a meeting with the tech giants to dis
The South Korean government vowed Tuesday to support local companies' bids to export nuclear reactors overseas, in a move to ease concerns that its nuclear phase-out plan could adversely affect efforts to new secure contracts.The Ministry of Trade, Industry and Energy held a meeting with state-r
South Korea didn't raise issue with China's trade barriers against South Korean companies during a World Trade Organization (WTO) meeting earlier this month, sources familiar with the matter said Wednesday, a decision that may reflect a rise in tension with North Korea and talks to extend th
South Korean stocks rose more than 17 percent for the first nine months of this year, the fifth highest increase rate among the world's major 20 advanced and emerging economies, the Korea Stock Exchange (KSE) said Sunday.The benchmark Korea Composite Stock Price Index (KOSPI) surged 17.1 percent
The sales volume of South Korea's mobile shopping market is expected to top 40 trillion won (US$34.9 billion) this year, the Korea Online Shopping Association said Saturday. The association forecast that purchases made through smartphones and other mobile devices in South Korea are expected to g
The South Korean government and tech giants Samsung Electronics Co. and LG Electronics Inc. plan to discuss ways next week to counter a possible safeguard action by the U.S. against their washing machines, industry sources said Saturday. The move comes as the U.S. International Trade Commiss
South Korean political parties on Thursday emphasized the importance of protecting national interests in Seoul's upcoming talks with Washington to amend their free trade agreement.On Wednesday (local time) in Washington, the two sides agreed to begin a process to amend their trade deal. Their ta
The U.S. International Trade Commission (ITC) determined Thursday that two South Korean companies' washing machines manufactured in foreign countries were harming the U.S. industry.The trade body announced the result of its four-month investigation prompted by a safeguard petition Whirlpool Corp
Imports of Vietnamese beverages have jumped over sevenfold in the past four years as more South Koreans preferred drinks made with tropical fruits, data showed Friday.Asia's fourth-largest economy imported US$250 million worth of beverages last year, down 0.5 percent from a year earlier, accordi
South Korean oil refiners, led by SK Innovation Co., are expected to report stronger-than-expected earnings for the third quarter of the year on the back of good refining margins and solid demand for key products, industry sources said Thursday.The benchmark Singapore complex gross refining margin (
South Korea and the United States agreed Wednesday to begin a process to amend their free trade agreement at Washington's request, Seoul's trade ministry said.The agreement was reached during talks in Washington led by South Korean Trade Minister Kim Hyun-chong and U.S. Trade Representative
South Korea will give priority to national interests in talks over the free trade agreement (FTA) with the United States, Finance Minister Kim Dong-yeon said Monday.The two countries are set to hold a second meeting on U.S. request for the amendment of the five-year-old deal known as KORUS in Washin
South Korea's exports soared 35 percent to reach an all-time high in September thanks to strong demand for semiconductors and displays, government data showed Sunday.Outbound shipments came to US$55.1 billion for the month, up from $40.8 billion tallied a year earlier, according to data compiled
South Korean retail giant Lotte's new holding company officially set sail Sunday, as the business group faces a series of challenges from home and abroad.In August, shareholders of four Lotte affiliates -- Lotte Shopping Co., Lotte Confectionery Co., Lotte Chilsung Beverage Co. and Lotte Food Co
Overseas travelers are 2.7 times more likely to get sick than those taking domestic trips, a think tank report said Saturday.Hyundai Marine & Fire's Traffic, Climate & Environment Research Institute said that from January 2014 through August of this year, 27.6 percent of all South Korean nationa
South Korea's container shipping sector showed signs of recovery this month following a protracted slowdown in the overall shipping industry, data showed Saturday.The business survey index (BSI) of the shipping industry as a whole came to 84 for September, up from 73 the previous month, accordin