Doosan Bobcat has started manufacturing small excavators in China, hoping to offer more affordable prices in the country and better reflect changes in the market.
The liberalization will be limited, the Ministry of Trade, Industry and Energy said Wednesday, with exports capped at 15 percent of February production levels. It will also be temporary, with the lifting of the ban to end on Jan. 5.
Seoul and Tokyo are looking at an extended period of rocky relations after a Daegu court Tuesday finished serving notice on Nippon Steel that its assets in Korea would be seized to compensate wartime forced labor victims.
While exports in July fell, they only declined in the single-digit range, breaking a long streak of double-digit drops.Exports last month fell 7 percent to $42.8 billion. Exports to the U.S. were particularly strong last month, up 7.7 percent.
Exports of medical products, such as medicine, medical devices and cosmetics, increased by nearly 27 percent during the first half of this year.
Korea’s objections to Japan’s export restrictions are being taken up by the World Trade Organization (WTO), which decided to create an arbitration panel.
If anyone knows how to rebrand itself, it’s Korea. Dozens of countries all over the world had enforced a travel advisory alert against those traveling to and from Korea in February, some going so far as to ban the entry of travelers from...
Export prices continued on an upward trend for the second month in a row in June, the first time since last year’s February-to-May period that export prices rose for more than two consecutive months.
According to the Korea Customs Service on Monday, exports in the first 10 days amounted to $13.3 billion, a 1.7 percent decline compared to the same period a year ago. In previous months, the declines were in the double digits.
Diversification of materials, parts and equipment sourcing will be significantly upped in the 2.0 strategy for reducing reliance on imports from Japan. The government more than triple the number of items for which supply will be shifted.