The Bank of Korea announced on Oct. 8 that South Korea’s exports and imports totaled US$45.15 billion and US$40.39 billion in August, respectively. Its goods account surplus fell from US$10.92 billion to US$4.77 billion in one year and hit a 67-month low.The goods account surplus has continued to de

Liberty Korea Party lawmaker Yoon Han-hong said on Oct. 7 that the Moon Jae-in administration’s nuclear phase-out policy has led to a total loss of 43 trillion won so far and it is divided into an 8.3 trillion won decline in Korea Electric Power Corp.’s net profit, 6.5 trillion won in renewable ener

The Greenhouse Gas Inventory and Research Center of the Ministry of Environment announced on Oct. 7 that South Korea’s greenhouse gas emissions totaled a record high of 709.14 million tons in 2017, up 2.4 percent from a year earlier. The previous high was 696.7 million tons in 2013.Specifically, gre

The South Korean government had spent 36 trillion won (US$30.08 billion) on buying U.S. arms alone over the past 13 years. The figure accounts for nearly 80 percent of the total.The Defense Acquisition Program Administration (DAPA) had imported 45.79 trillion won (US$38.25 billion) worth of overseas

The South Korean economy is getting worse and worse. Its exports and capital expenditures fell for 10 months and nine months in a row from a year earlier, respectively. Although the South Korean government is mentioning a global economic slowdown, experts are pointing out that the deterioration is d

The United States decided to impose punitive tariffs on EU products from Oct. 18. This means South Korea’s export conditions will be further exacerbated.According to the Ministry of Trade, Industry and Energy, South Korea’s monthly exports have shown a year-on-year decline since December last year.

The Liberty Korea Party, the Our Republican Party and conservative groups staged a rally in Seoul on Oct. 3, calling for President Moon Jae-in and Justice Minister Cho Kuk to step down. They asserted that more than three million people gathered. The police did not estimate the number.The rally took

The Ministry of Science and ICT has announced that the "World of Large Facilities" (WOLF) would be put into service this month. The WOLF is a system for real-time information and data sharing between large research facilities located in South Korea and Europe.The system is connected to the Zone for

The Ministry of Trade, Industry and Energy announced on Oct. 1 that South Korea’s exports and imports totaled US$44.71 billion and US$38.74 billion in September this year, down 11.7 percent and 5.6 percent from a year ago, respectively. Last month, South Korea posted a trade surplus for the 92nd con

The Cabinet passed amendments to labor-related acts for ILO convention ratification on Oct. 1. Although the ball is now in the court of the National Assembly, it is unlikely to pass the bills with workers and employers showing very different views and opposition parties claiming that the ratificatio

International credit rating agency S&P lowered its South Korean economic growth forecast for this year from 2 percent to 1.8 percent in three months on Oct. 1 with the South Korean economy facing declines in exports and investment. The agency said that the prolonging trade war between the United Sta

The Ministry of Economy, Trade and Industry of Japan permitted exports of fluorine polyimide in mid-September for the first time since its display and semiconductor material export restrictions against South Korea.The fluorine polyimide is scheduled to be used by one South Korean company and the imp

A battery industry consortium led by the French and German governments is about to build electric vehicle (EV) battery manufacturing plants to reduce Europe’s dependence on products from Asia.French Finance Minister Bruno Le Maire recently announced that the first plant of the consortium would be pu

South Korea’s overseas direct investment reached a new high in the second quarter of this year, continuing to increase for the fifth consecutive quarter. In particular, large corporations’ investment in the Chinese semiconductor and electronic equipment sectors soared in the wake of Japan’s semicond

The United Nations Conference on Trade and Development (UNCTAD) released this year’s Trade and Development Report on Sept. 29. In the report, the United Nations estimated this year’s global economic growth rate at 2.3 percent, the lowest in 10 years, and said that things are unlikely to get better n

South Korea placed 10th in this year’s World Digital Competitiveness Ranking which was released by the International Institute for Management Development (IMD) on Sept. 26. South Korea climbed four notches from a year ago in the survey, which covers 63 countries.The first World Digital Competitivene

South Korea will come up with pan-governmental measures to retrieve the 650 billion won (US$542.12 million) locked in a new city development project in Cambodia.The loans were extended to a South Korean entrepreneur by now bankrupt Busan Savings Bank. The project, dubbed Camco City project, failed i

With procedures for the impeachment of U.S. President Donald Trump started, South Korean enterprises are paying much attention to how their investment in the United States and export to the United States and China will be affected. There is a possibility that he will urge foreign companies to invest

South Korea and Russia have agreed to work together to conclude a free trade agreement in the service and investment sectors next year, raise a joint fund of US$1 billion for investment in Russia’s original technologies, and combine the technologies with South Korea’s commercial technologies for mat

South Korean Trade, Industry and Energy Minister Sung Yun-mo met with U.S. Commerce Secretary Wilbur Ross in New York on Sept. 24 and requested support for the removal of Japan’s export restrictions against South Korea. The secretary of commerce said that the restrictions are affecting American comp