Archive for the ‘South Korea’ Category

South Korea’s economy has surpassed expectations in the third quarter, with growth primarily driven by exports. This robust performance reinforces the argument for the central bank to maintain its current interest rates in the coming months.   According to data from the Bank of Korea, Gross Domestic Product (GDP) expanded by 0.6% in the July-September […]

News, South Korea, Trade Agreements

October 15, 2023

In a positive development, Britain and South Korea have agreed to extend the period of low or zero tariffs on bilateral trade, particularly on products with components originating from the European Union (EU). This extension, confirmed by the British government, is a welcomed boost for various industries, notably the automotive sector.   The extension of […]

In a significant stride for global trade, the United Arab Emirates and South Korea announced the culmination of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) this Saturday. This pivotal accord underscores the robust and burgeoning economic partnership between the two nations, set against a backdrop of sustained growth in non-oil bilateral trade, which touched […]

The International Trade Council is pleased to report on the signing of a significant Free Trade Agreement (FTA) between the Philippines and South Korea. This momentous occasion took place during the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, and is poised to strengthen economic ties and promote increased cooperation between the […]

News, South Korea, Trade Relations

September 11, 2023

The International Trade Council commends South Korea for its proactive engagement in international talks and the signing of multiple agreements related to minerals and electric vehicles (EVs). These agreements align with South Korea’s ambitious goals for EV battery manufacturing and underscore the nation’s commitment to pursuing strategic initiatives despite challenges in its manufacturing sector.   […]

News, Philippines, South Korea

September 7, 2023

The International Trade Council is pleased to recognize the signing of a free trade agreement (FTA) between the Philippines and South Korea during the ASEAN Summit in Indonesia. President Ferdinand Marcos Jr. announced this significant development, emphasizing its potential to strengthen investment relations and create employment opportunities.   President Marcos highlighted that the FTA underscores […]

India’s Trade Minister, Piyush Goyal, announced on Thursday that the country has requested Japan and South Korea to reconsider their existing free-trade agreements (FTAs) with India to ensure a more “balanced and equitable” trade relationship. The move comes in response to the widening trade gap between India and the two Asian nations. During an event […]

The International Trade Council is pleased to announce the re-establishment of finance dialogue between Japan and South Korea, as the two countries held their first finance leaders’ meeting in seven years on May 2, 2023. The renewed commitment to regular dialogue is a crucial step towards enhanced cooperation and coordination in the region.   Japanese […]