US President Donald Trump said Friday that the US is "very close" to resolving a trade row with South Korea, hinting at an announcement next week.The president was apparently referring to the renegotiation of the Korea-US free trade agreement as well as Seoul's push to win an exemption from US tariffs on steel imports."The deal with South Korea is -- according to Secretary Ross and Bob Lighthizer -- is very close to being finished," he said during a news conference at the Whi

South Korea, China and Japan held a new round of trade talks on Friday in Seoul in the latest push to work out differences for a free trade deal amid rising trade protectionism.Trade officials will discuss modalities for tariff reduction, service market liberalization and other global trade issues, the Ministry of Trade, Industry and Energy said."South Korea, China and Japan need to show a firm will to advocate free trade amid intensifying trade tension in light of the protectionist policie

South Korean steelmakers remain jittery about their exports to the United States despite Washington's move to temporarily exempt Seoul from heavy tariffs on steel imports, industry sources said Friday.Speaking at a Senate hearing, US Trade Representative Robert Lighthizer said President Donald Trump has authorized a "pause" in the 25 percent tariff on steel and 10 percent tariff on aluminum imports, which were to go into effect Friday.The exemption, which also applies to the European U

WASHINGTON -- The United States will temporarily exempt South Korea from stiff tariffs on steel imports, a top US trade official said Thursday, following weeks of lobbying by South Korean officials.Speaking at a Senate hearing, US Trade Representative Robert Lighthizer said President Donald Trump had authorized a "pause" in the 25 percent tariff on steel and 10 percent tariff on aluminum imports, which are to go into effect Friday.Also on the list of exemptions are the European Union,

Lukewarm growth and household debts deter Seoul’s central bank from raising rate in response

The South Korean currency depreciated at a sharp clip due to the nuclear tests conducted by North Korea last year, a central bank report showed Thursday.The report published by the Bank of Korea examined the movement of the won-dollar rate for five trading sessions before and after nuke tests between 2008 and 2017.It used an analysis model assuming that news articles on North Korean provocations affect the South Korean exchange rates against the U.S. dollar. North Korea has conducted six nuclear

South Korea and China on Thursday began the first round of talks to expand the scope of the bilateral free trade agreement to better cover the service and investment sectors and increase business opportunities for both sides.The two nations implemented the FTA, which is focused on lowering tariffs on goods, in December 2015 and recently agreed to hold negotiations to upgrade the trade deal.Kim Young-sam, a deputy minister of trade and investment at the Ministry of Trade, Industry and Energy, and

South Korea's central bank chief said Thursday that the latest interest rate hike in the United States will have little impact on the South Korean market."The US Federal Reserve's decision met market expectations, and as a result, the US market remained steady," Bank of Korea Gov. Lee Ju-yeol told reporters before attending an emergency meeting with officials in Seoul. "In South Korea, I expect that the financial market will have little impact from the Fed's decision."The US

Concerns are rising that Korea, which is heavily dependent on exports for growth, will become the biggest victim of a looming global trade war prompted by US protectionist measures and retaliatory moves from other major economies.China and the EU are poised to react strongly if they are subject to hefty US tariffs on steel and aluminum imports, which are slated to come into force Friday.The trade conflict between the US and China is set to further flare up as President Donald Trump’s admin

Change in online consumer patterns reflects shifting views on gender roles

Concerns mount on possible compromises in bilateral FTA amendment talks

South Korean President Moon Jae-in and Canadian Prime Minister Justin Trudeau agreed Tuesday to work together to fight trade protectionism in the global market, Seoul's presidential office Cheong Wa Dae said.The agreement came in their phone conversation held earlier in the day."President Moon and Prime Minister Trudeau noted both South Korea and Canada are highly dependent on trade, and expressed concerns over the recent spread of trade protectionism throughout the world," Cheong Wa D

Vietnam is expected to outstrip the United States as Korea's second-largest export destination in 2020 thanks to a bilateral free trade deal, a report said Tuesday."Bilateral trade is expected to exceed $100 billion in 2020, making Vietnam the No. 2 destination for Korean exports after China," said the report from the Korea International Trade Association.Vietnam surpassed Hong Kong and emerged as Korea's third-biggest export market in 2017, trailing China and the US, up three notches

The US Federal Reserve is not expected to unveil a surprise shift in its monetary policy position following this week's rate-setting meeting, market analysts said Tuesday.The Federal Open Market Committee is tipped to raise interest rates at the Tuesday-Wednesday meeting to be presided over first by new Fed Chair Jerome Powell.A growing number of market experts have predicted that the US Federal Reserve will jack up interest rates four times this year, from an earlier estimate of three, on solid

More Korean men tend to view income and job status as essential factors for a thriving dating life compared to Japanese men, a recent report said.The report, released in late 2017, delves into the correlation between youths' economic self-reliance and family formation in Korea and Japan. The project, led by researcher Cho Sung-ho of the Korea Institute for Health and Social Affairs, cites two studies that analyzed Koreans aged 15-30 and Japanese aged 18-70. Clear differences were spotted between