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Ferrari opens Asia's 1st Universo Ferrari exhibition in S. Korea

SEOUL, June 1 (Yonhap) -- Italian carmaker Ferrari on Thursday opened the Universo Ferrari exhibition for the first time in Asia in South Korea as it sees further growth potential in Asia's fourth-biggest economy.Ferrari will showcase 22 models,
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S. Korea to lift regulations, expand support for industrial clusters

By Kang Yoon-seung SEOUL, June 1 (Yonhap) -- South Korea plans to revamp its policy on fostering industrial clusters to establish a self-sustaining ecosystem and expand ties with global partners, the finance ministry said Thursday.The move is in line
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Online shopping up 6 pct in April on high demand for travel, leisure activities

SEOUL, June 1 (Yonhap) -- Online shopping in South Korea jumped 6 percent on-year in April on high demand for travel and outdoor programs amid the eased COVID-19 restrictions, data showed Thursday.The value of online shopping transactions amounted to
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Institutions' foreign securities holdings up 1.3 pct in Q1

SEOUL, June 1 (Yonhap) -- South Korean institutions' investment in foreign securities increased 1.3 percent in the first quarter of the year on the back of an advance in the value of overseas stocks and increased bond purchases, central bank data
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(LEAD) S. Korea's exports down for 8th month in May on sagging chip demand

(ATTN: ADDS more details throughout)SEOUL, June 1 (Yonhap) -- South Korea's exports fell for an eighth consecutive month in May due mainly to weak demand for semiconductors amid an economic slowdown, the industry ministry said Thursday.Outbound s
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HD Korea Shipbuilding bags 1.24 tln-won order for 5 container ships

SEOUL, June 1 (Yonhap) -- HD Korea Shipbuilding & Offshore Engineering Co. said Thursday it has won a 1.24 trillion-won (US$937 million) order to build five very large container carriers for a Taiwanese shipper.HD Hyundai Heavy Industries Co., one of
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S. Korea's exports down for 8th month in May on sagging chip demand

SEOUL, June 1 (Yonhap) -- South Korea's exports fell for an eighth consecutive month in May due mainly to weak demand for semiconductors amid an economic slowdown, the industry ministry said Thursday.Outbound shipments fell 15.2 percent on-year t
(URGENT) S. Korea's semiconductor exports sink 36.2 pct in May

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(URGENT) S. Korea's exports dip 15.2 pct to US$52.24 bln in May: customs data

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Kia to suspend one domestic plant in H2 for EV preparations

SEOUL, May 31 (Yonhap) -- Kia Corp., South Korea's second-biggest carmaker, said Wednesday it will suspend the operation of one of its eight domestic plants during the second half of this year in preparation for electric vehicle (EV) production.
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Sales, digital service expert named CEO of Mercedes-Benz Korea

SEOUL, May 31 (Yonhap) -- Mercedes-Benz Korea said Wednesday a sales and digital service expert will head the German carmaker's South Korean operations from September. Mathias Vaitl, the current head of Mercedes me and the Digital Services Busine
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Number of startups dips 4.4 pct in Q1

SEOUL, May 31 (Yonhap) -- The number of startups in South Korea dropped more than 4 percent in the first quarter of the year amid economic uncertainties at home and abroad, government data showed Wednesday.A total of 333,000 new companies were set up
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Trade terms continue to fall in April on faster export price fall

SEOUL, May 31 (Yonhap) -- South Korea's terms of trade worsened for the 25th straight month in April as export prices fell faster than import prices, central bank data showed Wednesday.The country's net terms-of-trade index for goods fell 0.5
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Overseas card spending rises 15 pct in Q1 on eased virus curbs

SEOUL, May 31 (Yonhap) -- South Koreans' overseas card spending gained nearly 15 percent in the first quarter of the year on the back of eased COVID-19 curbs and increased direct purchases, central bank data showed Wednesday.The amount of money s
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Tax revenue down 34 tln won through April

By Kang Yoon-seungSEJONG, May 31 (Yonhap) -- South Korea's tax revenue fell 33.9 trillion won (US$25.7 billion) in the first four months of the year compared with a year earlier, data showed Wednesday, as an economic slump weighed down on busines
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Customs office nabs exporters of product allegedly infringing POSCO's patent

By Kang Yoon-seungSEJONG, May 31 (Yonhap) -- South Korea's customs agency said Wednesday it has apprehended a group of five people who had exported an industrial product suspected of infringing a patent owned by the leading steelmaker POSCO.The K
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S. Korea holds public-private meeting on IPEF developments, future strategies

SEOUL, May 31 (Yonhap) -- Trade Minister Ahn Duk-geun met with officials of major economic and industry associations Wednesday to discuss latest developments regarding the U.S.-led Indo-Pacific Economic Framework (IPEF) and the future path of its neg
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S. Korea's exports of tractors hit fresh record in 2022

SEJONG, May 31 (Yonhap) -- South Korea's exports of agriculture tractors hit a record high in 2022 by advancing 23 percent on-year, data showed Wednesday, amid growing demand for small-sized models.The value of tractors shipped overseas came to U
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S. Korea, Japan resume dialogue on steel cooperation after 5-yr hiatus

SEOUL, May 31 (Yonhap) -- South Korea and Japan on Wednesday held their first regular dialogue on steel industry cooperation in five years to discuss ways to boost technology exchanges and to jointly respond to the net-zero market trend, the industry
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(2nd LD) Industrial output dips most in over 1 yr in April; inventories at record high

(ATTN: UPDATES with details throughout; CHANGES photo; CORRECTS para 6 with revised data from statistics agency)By Kang Yoon-seungSEJONG, May 31 (Yonhap) -- South Korea's industrial output dropped by the most in over a year in April due to an ext