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Friday, May 26, 2017

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The South Korean government will not use the terms such as “a balancer in Northeast Asia” and “balancing diplomacy” that have been its key concepts of diplomacy for the past about 12 years.
Abolition of ‘Balancer’ Policy
26 May 2017 - 11:45am
The South Korean government decided to no longer use terms such as “South Korea as a balancer in Northeast Asia” and “balancing diplomacy,” which have been its key concepts of diplomacy for about 12...
If the current tension related with THADD continue for one year, the amount of money Chinese shoppers spend in South Korea is likely to fall by 80% or 15.2 trillion won (US$13.6 billion) in value.
Negative Affect
22 May 2017 - 12:45pm
The Korea Institute for Industrial Economics and Trade (KIET) said on May 21 that the number of Chinese tourists visiting South Korea increased from approximately one million to seven million between...
Relations between South Korea and China are showing some signs of improvement after the inauguration of the new government in South Korea.
Exit from THADD Deadlock?
17 May 2017 - 12:30pm
Relations between South Korea and China are showing some signs of improvement after the inauguration of the new government in South Korea. Under the circumstances, South Korean companies are...
Headquarters building of the International Trade Commission (ITC) of the United States.
Import Duties Imposed
10 May 2017 - 12:15pm
The International Trade Commission (ITC) of the United States decided on May 5 to impose anti-dumping duties on carbon and alloy steel cut-to-length (CTL) plates imported from the eight countries...
Lotte Group’s combined losses related to the THAAD issue are predicted to reach 500 billion won (US$439.95 million) from March and April.
No Exit Seen
8 May 2017 - 11:00am
China has taken economic retaliatory measures against Lotte Group’s affiliates, including Lotte Mart and Lotte Duty Free, over the deployment of an advanced U.S. missile defense system, known as the...
The retaliation from China is likely to result in a loss of 8.5 trillion won (US$7.6 billion) on the part of South Korea in 2017 alone.
Effect of THADD
4 May 2017 - 10:15am
The Hyundai Research Institute said in its report on May 3 that the economic retaliation from China that has followed THAAD deployment in South Korea is likely to result in a loss of 8.5 trillion won...
A renegotiation or cancellation of the KORUS FTA is estimated to result in South Korea’s export loss of US$6.6 billion to US$17 billion for five years to come.
In Case of Renegotiation
1 May 2017 - 3:00pm
U.S. President Donald Trump mentioned the possibility of renegotiation or cancellation of the KORUS FTA during his interview with Reuters on April 27. According to the Korea Economic Research...
An E-Mart store in China.
Close-down in China
27 April 2017 - 9:15am
The Korea Economic Daily reported on April 25 that E-Mart will make a total withdrawal from China within this year. The newspaper quoted industry sources by saying "E-Mart decided to close down all...
South Korean Deputy Prime Minister Yoo Il-ho (fourth from left, second row) and Bank of Korea Governor Lee Ju-yeol (fifth from left, second row) at the G20 Financial Ministers and Central Bank Governors Meeting in Washington D.C.
Rebounding Economy
24 April 2017 - 11:15am
South Korean Deputy Prime Minister Yoo Il-ho visited Washington D.C. on April 22 (local time) for the G20 Financial Ministers and Central Bank Governors Meeting and the Spring Meetings of the IMF and...
US Vice President Mike Pence said Washington will “review and reform” the KORUS at a meeting of the American Chamber of Commerce in Seoul on April 18.
Korea-US FTA
19 April 2017 - 10:30am
US Vice President Mike Pence said on April 18 Washington will “review and reform” the free trade pact with Seoul, citing growing trade deficits and “too many barriers” to US businesses. "Most...
The decline in rice consumption and the rice oversupply led the government to donate rice to Myanmar and Cambodia.
Donation of Rice
14 April 2017 - 10:45am
The South Korean government decided to offer its rice for free to Myanmar and Cambodia in the first half of this year. The amount is 500 tons for Myanmar and 250 tons for Cambodia. South Korean...
South Korea’s industry minister Joo Hyung-hwan shakes hands with Turkmenistan deputy prime minister of oil and gas Babahev after signing an agreement of cooperation between the two countries in Ashgabat, Turkmenistan on April 6 (local time).
$11.2B Turkmenistan Projects
10 April 2017 - 1:45pm
South Korea will strengthen economic cooperation with Turkmenistan with the fourth largest natural gas reserve in the world. On April 6 (local time), Joo Hyung-hwan, the industry and commerce...

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