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Economy

Economy

History Following the Korean war, the South Korean government needed to rebuild the country. The government selected firms in targeted industries and gave them privileges to buy foreign currencies and to borrow funds from banks at preferential rates. It also erected tariff barriers and imposed a prohibition on manufacturing imports,[…]

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14th Korea-New Zealand Joint Economic Committee Meeting

Date : 2019-05-02 17:34:55 1. The Ministry of Foreign Affairs held the 14th meeting of the Korea-New Zealand Joint Economic Committee in Seoul on May 2. In the meeting, the two sides reviewed the progress in bilateral economic cooperation in a range of areas, including trade and investment, and discussed[…]

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Strong year for New Zealand-South Korea trade

The value of total trade in goods between New Zealand and South Korea rose 33% in 2018 to NZ$4.5 billion, led by a 45.1% increase in imports from South Korea.  Exports from New Zealand to South Korea, New Zealand’s fifth largest goods trading partner, increased 17% in 2018 on the[…]

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Korea Market Report: Seafood

Korea has the highest per-capita seafood consumption in the world. With the popularity of seafood restaurants continuing to grow, there is substantial demand for seafood that cannot be met in the domestic market. Korea represents an exciting market for New Zealand seafood producers. The Korea-NZ FTA will see benefits for[…]

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Korea Market Report: Red Meat

New Zealand’s red meat sector can look ahead to increasing opportunity in the Korean market now that the Korea-NZ FTA has entered into force. New Zealand’s price competitiveness with other countries’ beef and lamb products will erode no further, as tariffs reduce to zero over time. Meanwhile, New Zealand product[…]

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South Korea bans single-use plastic bags in supermarkets

From Tuesday (local time), most major supermarkets are banned from using single-use plastic bags – including selling them for extra at the check-out, as some New Zealand supermarkets do. The affected stores are already blocked from freely handing out the bags, but the new rules means they can’t use them[…]

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Market Guide: Korea

South Korea is the world’s 13th-largest economy, boasting some of the biggest technology and manufacturing brands in the world. It’s now focused on ‘economic democratisation’ and ‘green growth’, which presents opportunities to New Zealand exporters.

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Korea Market Report: Fruit And Vegetables

Koreans are consuming an expanding range of fruit and vegetables which will provide opportunities for New Zealand growers. Some horticultural products have already benefited from tariff reductions and others will become increasingly competitive over the next five to ten years. New Zealand’s reputation for food safety and ability to meet[…]

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