South Korea shipped 5 tons of “geobong” -- a species of grapes -- to China, marking its first-ever export of fresh fruit to the country, said the Ministry of Agriculture, Food and Rural Affairs on Tuesday. 　Agriculture Minister Lee Dong-phil and representatives of 13 local vineyards in Cheonan, South Chungcheong Province, saw the premium quality geobong grapes, also dubbed the kyoho grapes in Far East Asia, set sail for Chinese shores.　The exported brand is “Haneul Green,” a signature geobong br

Visitors flock to the Korean forest product section at a global food convention in Indonesia in April. (KFS)The Korea Forest Service is seeking to expand the nation’s export of premium-quality forest products to China, catching on the growing demand for food safety in the world’s No. 2 economy.　The KFS on Monday said it is in the last stage of meeting this year’s export goal of $500 million for forest products, thanks to the stable construction of export-intensive frameworks, including the Korea

The Federal Reserve held its key interest rate locked at zero Thursday, citing worries about how the slowdown in China will hit the US economy.   Fed Chair Janet Yellen said the economy continues to grow moderately and that a rate increase could still take place before the end of the year.   However, policy makers were still focused on the spillover from China's troubles and those in other major emerging market economies.   "A lot of our focus has been on risks around China, but not just China,

“Way Back into Korea” By Choong Soon Kim(Ilchokak) Cover of “Way Back into Korea” (Ilchokak)　There is always the danger, with introductory books into Asian culture, of stereotyping and the spraying of names, dates and footnotes that seem almost impossible to remember. 　Some of the earlier descriptions of Korea, such as the “hermit nation” and “land of morning calm,” fall short of portraying Korea’s fast-changing here-and-now. On top of that, the love-hate relationship between the flow and inform

Korea Development Bank chairman Hong Ky-ttak takes a guided tour of Celltrion, a KOSDAQ-listed biopharmaceutical company supported by KDB’s program, in Incheon on Thursday. (KDB)Korea Development Bank chairman Hong Ky-ttak on Thursday pledged to carry out stronger support for small and medium-sized enterprises, asking them to reinforce creativity and innovation in entrepreneurship. 　“The Korean economy is facing challenges with low growth, which makes stronger support for the promising SMEs more

Bottles of Budweiser (right) and Miller beer. (Bloomberg)The makers of Budweiser aren't satisfied with being the kings of beer. They want an empire.Anheuser-Busch InBev, the world's biggest brewing company and the owner of Budweiser, announced Wednesday it wants to buy SABMiller, the second-largest brewer — and the maker of long-time rival brand Miller Genuine Draft.The deal would create a multinational behemoth valued at around $275 billion with annual sales of $73.3 billion, more than three ti

KT&G staffers consult buyers at InterTabac, the world’s leading trade fair for tobacco products and smoking accessories, in Dortmund, Germany. (KT&G)KT&G said Wednesday that its outbound sales of cigarettes broke the 500-billion-unit mark, fanning expectations that the cigarette-maker’s export sales will outperform its domestic sales within the year. 　According to KT&G’s cigarette sales data, its outbound sales volume reached 500.2 billion cigarettes as of Sept. 15. Counting in the cigarettes pr