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Stories that are tagged 'Korea, South'

Peru, Korea Cement Economic Ties
5/17/2012
Peru's President Ollanta Humala recently met with his Korean counterpart, Lee Myung-bak, in the South Korean capital, Seoul, to sign a double tax agreement, and agree further areas for cooperation following the conclusion of a free trade agreement in 2011.
South Korea To Cut Property CGT
5/14/2012
The South Korean government has disclosed that it will try to boost the local housing market by relaxing restrictions on property transactions and cutting property transfer tax rates.
S Korea, China, Agree To Trilateral FTA Talks With Japan
5/8/2012
With South Korea and China due to begin their negotiations on a bilateral free trade agreement, a trilateral agreement to include Japan will also be under discussion at a prior meeting of the three countries’ trade ministers.
South Korea, China To Start FTA Talks
5/4/2012
The Chinese Minister of Commerce Chen Deming and South Korea’s Trade Minister Park Tae-ho have announced, after a meeting in Beijing on May 2, the official launch of negotiations for a China-South Korea free trade agreement.
USITC Surprises With Two Rulings For Asian Exporters
4/23/2012
The United States International Trade Commission has surprised and caused a certain amount of consternation within American industry, by ruling, twice on the same day, that domestic manufacturers were not being harmed by imports from their Asian competitors.
Japan To Pursue Chinese FTA If Tripartite Deal Falters
4/16/2012
If a proposed tripartite China-Japan-South Korea free trade agreement is delayed by South Korean doubts, the Japanese government has decided to try to begin, instead, immediate bilateral trade talks with China.
China, S Korea, Japan Agree To FTA Talks At An Early Date
4/12/2012
The foreign ministers of China, Japan and South Korea have recently come together in Ningbo, the seaport city on China’s east coast, for their sixth tripartite meeting, covering cooperation in many areas, including the prospective bilateral and trilateral free trade agreements.
Results Of Annual US Review Of Telecommunications Trade Agreements
4/10/2012
United States Trade Representative Ron Kirk has announced the results of the 2012 annual review of the operation and effectiveness of telecommunications trade agreements under Section 1377 of the Omnibus Trade and Competitiveness Act of 1988.
World Economic Forum Issues Global ICT Report
4/6/2012
The World Economic Forum, in collaboration with INSEAD, has issued the Global Information Technology Report for 2012, which is said to be the most comprehensive assessment of the preparedness of global economies to leverage the networked economy.
APEC Focuses On Trade And Investment
4/6/2012
The Asia-Pacific Economic Cooperation is moving ahead with cooperative efforts to evaluate and identify initiatives to support freer, faster and more beneficial trade in the region that will lead ultimately, it is hoped, to a Free Trade Area of the Asia Pacific.
South Korea, Italy Sign TIE Protocol
4/5/2012
A protocol to the existing double taxation agreement between South Korea and Italy was signed on April 3, and is expected to take effect in the first half of this year.
Key Pushes For New Zealand-South Korea FTA
3/28/2012
In his remarks to the Kiwi Chamber of Commerce while in Seoul, New Zealand’s Prime Minister John Key pushed for a completion of his country’s free trade agreement with South Korea.
South Korea, Turkey Sign Preliminary FTA
3/27/2012
Following meetings earlier this month, South Korea and Turkey were able, on March 26, to sign an initial agreement on trade in goods, as a step on the way to a full bilateral free trade agreement.
Japan, China, South Korea Agree On Investment Pact
3/26/2012
China, Japan and South Korea have recently held successful negotiations in Beijing, at the end of which the text of a tripartite investment agreement was initialled.
US Explains Anti-Dumping Investigative Process
3/23/2012
As the Department of Commerce is scheduled to release shortly a series of determinations regarding antidumping duties, when a foreign company sells a product in the United States at less than fair value, and countervailing duties to offset the benefits of foreign government subsidies, it has issued an explanation of how its investigative process works in that regard.
South Korea-US FTA Comes Into Effect
3/16/2012
The long-delayed South Korea-United States free trade agreement, which was originally signed in 2007, entered into force on March 15, 2012.
Minister Pushes South Korea's Free Trade Agenda
3/14/2012
At a recent forum in Seoul, Minister of Strategy and Finance Bahk Jae-wan, stressed that taking advantage of free trade agreements is of particular importance to South Korea, whose domestic market is relatively small.
International Patent Filings Set New Record In 2011
3/7/2012
Despite difficult global economic conditions, international patent filings under the World Intellectual Property Organization-administered Patent Cooperation Treaty set a new record in 2011 with 181,900 applications – up 10.7% on 2010 and the fastest growth since 2005.
US, South Korea Highlight Patent Cooperation Progress
3/5/2012
The United States Patent and Trademark Office and the Korean Intellectual Property Office have highlighted the progress made on their pilot programme intended to maximize the reuse of work performed by each office, thereby reducing the duplication of examination work.
APEC Business Leaders Push Asia-Pac FTA
2/29/2012
The Business Advisory Council of the Asia-Pacific Economic Cooperation is focused on taking further steps towards realizing the goal of an integrated Asia Pacific economy, and on liberalizing and facilitating trade and investment, leading ultimately to a Free Trade Area of the Asia Pacific.
US Slaps Duties On Korean Power Transformers
2/28/2012
The US Department of Commerce has announced the introduction of anti-dumping duties following an investigation into South Korean large power transformers.
Rising Income Boosts South Korean Tax Revenues
2/13/2012
The South Korean government’s tax revenue totalled almost KRW200 trillion (USD178bn) in 2011, fuelled by the country’s continued economic growth and consequent increased corporate and individual earnings.
South Korea Examines FTA With China
2/10/2012
Following the agreement between South Korea's President Lee Myung-Bak and his Chinese counterpart Hu Jintao during meetings last month, the South Korean government will shortly begin internal consultations on a free trade agreement between the two nations.
Korean Opposition Promises To Axe KORUS FTA
2/13/2012
South Korea’s main opposition Democratic Party has confirmed that it would cancel the free trade agreement with the United States if it became the majority party in parliamentary elections due in April this year.
South Korea, Turkey To Conclude FTA
2/7/2012
Following a meeting in Istanbul between South Korea’s President Lee Myung-bak (pictured) and the Turkish Prime Minister Recep Tayyip Erdogan, it was agreed that the two countries should conclude their talks on a free trade agreement as early as possible.
Singapore Tops 'Doing Business' Index
2/3/2012
The World Bank report, ‘Doing Business 2012’, the ninth in an annual series, ranks 183 economies on their ease of doing business, and reports a general improvement in the global business regulatory environment.
Bermuda Signs TIEAs With South Korea, Turkey
1/25/2012
Tax information exchange agreements, which incorporate the internationally-agreed Organization for Economic Cooperation and Development standard for the exchange of information for tax purposes, have been signed between Bermuda and both South Korea and Turkey.
IoM Showcased In Korea
1/17/2012
The Isle of Man is to receive welcome international promotion as a result of a documentary being made by leading Korean broadcaster Korean Broadcasting System (KBS) with a focus on the island's economy and investment opportunities.
South Korea, China To Proceed With FTA Talks
1/16/2012
The Presidents of South Korea and China have agreed during three days of meetings that the nations will commence negotiations towards a free trade agreement to boost trade relations.
South Korea Issues English Tax Guide For Expatriates
1/6/2012
In order to provide additional assistance for expatriates working in South Korea, the National Tax Service has issued an updated version on its website of its Easy Guide for Foreigners’ Year-end Tax Settlement, written in English.
South Korea Introduces Buffett Tax
1/4/2012
With support from both ruling and opposition parties, South Korea’s National Assembly has approved the introduction of a ‘Buffett Tax’ on the country’s wealthiest taxpayers.
China, Japan, South Korea Conclude Joint FTA Study
12/26/2011
At a recent meeting finalising a joint study on the proposed China-Japan-South Korea free trade agreement, held in Pyeongchang, South Korea, a start was recommended to its negotiation as soon as possible.
Singapore Tops Asia-Pac 'Good Governance' Index
12/14/2011
Vriens and Partners, an Asia-focused corporate advisory firm, has issued its 2011 ‘Good Governance for International Business’ index of 19 economies in the Asia-Pacific region, in which Singapore has edged out Hong Kong for the number one position.
South Korea To Ease Capital Gains Tax On Property
12/8/2011
With the South Korean property market having seen only a sluggish recovery this year, the government has decided to remove permanently the threat of an additional capital gains tax on owners of more than one property.
President Lee Signs Bills To Implement KORUS FTA
12/1/2011
Despite continued opposition protests in South Korea, President Lee Myung-bak has signed the fourteen bills that will enable the implementation by his government of the South Korea–United States free trade agreement.
South Korea To Expand Preferential Tariffs
11/29/2011
South Korea’s Ministry of Strategy and Finance has announced a further expansion of its tariff exemption programme for products from least-developed countries, with effect from January 1 next year.
South Korea Finally Approves FTA With US
11/25/2011
South Korea’s ruling Grand National Party has lost patience with the continued opposition of the Democratic Party and has pushed the South Korea–United States free trade agreement through parliament using its absolute majority.
APEC Approves Cross-Border Privacy Rules
11/18/2011
The Asia-Pacific Economic Cooperation group has approved a new initiative to harmonize cross-border data privacy protection, which is designed to enhance the protection of consumer data that moves between its members, including the United States, at a time when more consumer information is moving across national borders.
APEC Looks At Regional Economic Integration
11/17/2011
Under the chairmanship of US President Barack Obama, the leaders of the Asia-Pacific Economic Cooperation group, at their recent meeting in Hawaii, adopted the ‘Honolulu Declaration’, which looks towards a 'seamless regional economy', by strengthening regional economic integration and expanding trade, promoting green growth, and advancing regulatory convergence and cooperation.
Patent Offices Create Common Citation Document
11/15/2011
With the launch of a new free-of-charge information service, the Common Citation Document, it was said that the European Patent Office, the Japan Patent Office and the United States Patent and Trademark Office have 'opened a new era of advancing patent harmonization across the globe.'
Investor Dispute Clause Holds Up KORUS FTA
11/3/2011
While South Korea’s main opposition Democratic Party is still blocking the passage of the South Korea–United States free trade agreement in a parliamentary committee, opposition is now centred on the agreement’s investor-state dispute settlement clause.
Obama Signs Trade Pacts
10/25/2011
US President Barack Obama has signed the implementing legislation for the United States free trade agreements with South Korea, Colombia and Panama, as well as a bill providing benefits to US workers losing their jobs as a result of freer trade.
South Korea, Japan To Resume FTA Talks
10/21/2011
At a recent summit meeting in Seoul, the South Korean President Lee Myung-bak and the Japanese Prime Minister Yoshihiko Noda have agreed to resume working-level discussions on negotiations for a free trade agreement between the two countries.
Brazilian Car Import Tax Hike Concerns WTO Members
10/19/2011
Japan is said to be leading a chorus of protest at the World Trade Organization against a protectionist measure announced by Brazilian authorities in September to shield the nation's car manufacturing and car assembly industry from cheap foreign imports.
Political Problems Persist For KORUS FTA In Seoul
10/19/2011
South Korea’s main opposition Democratic Party remains implacably opposed to the passing of the South Korea–United States free trade agreement through parliament, and is continuing to demand its renegotiation.
South Korea To Provide Electric Car Tax Breaks
10/14/2011
South Korea’s Ministry of Knowledge Economy has stated that the government intends to offer tax incentives for buyers of electric cars, in an attempt to increase further the country’s market for energy-efficient motor vehicles.
US Congress Finally Passes FTAs
10/14/2011
Both the House of Representatives and the Senate have, in quick succession, passed implementing legislation for the long-awaited United States free trade agreements (FTAs) with South Korea, Panama and Colombia, which will now be passed to President Barack Obama for his signature.
Obama Submits Pending FTAs To Congress
10/5/2011
Amidst general calls for a swift Congressional reaction, President Barack Obama has formally submitted the legislation for the three pending free trade agreements between the United States and South Korea, Colombia, and Panama, along with renewal of the Trade Adjustment Assistance measures and the expired Generalized System of Preferences trade program.
Eight Countries Sign ACTA
10/4/2011
The United States Trade Representative has issued a statement on behalf of Australia, Canada, the European Union and its member states, Japan, South Korea, Mexico, Morocco, New Zealand, Singapore, Switzerland and the United States, who have reaffirmed their commitment to the Anti-Counterfeiting Trade Agreement at a signing ceremony in Tokyo.
Republican Senators Urge Obama to Send FTAs To Congress
10/3/2011
Republicans from the United States Senate, including Senate Leader Mitch McConnell and its Finance Committee Ranking Member Orrin Hatch (pictured), have sent a letter to President Obama urging him to submit the pending free trade agreements with Colombia, Panama, and South Korea to Congress for a vote.
US Senate Tries To Push Pending FTA Approval
9/27/2011
The United States Senate has voted, on a bipartisan basis, to renew the Generalized System of Preferences and Trade Adjustment Assistance, in the hope that it will prompt action from President Barack Obama to present the pending free trade agreements to Congress.
South Korea, Colombia Look To Complete FTA This Year
9/16/2011
At a summit meeting in Seoul between South Korea’s President, Lee Myung-bak, and Colombia’s President, Juan Manuel Santos Calderon, it was agreed that the two sides would make an effort to conclude the proposed South Korea-Colombia free trade agreement by the end of this year.
South Korea To Tax Foreign Investors In Kimchi Bonds
9/9/2011
The Ministry of Strategy and Finance has announced that it will impose a withholding tax on interest received by overseas investors in foreign currency bonds issued in South Korea.
House Approves US Generalized System Of Preferences
9/12/2011
The Republican Party has, with a bipartisan vote in the House of Representatives, introduced and passed a renewal of the United States’ Generalized System of Preferences, and hope that it will prompt some action from President Barack Obama and the Democrat Party to present the pending free trade agreements to Congress.
South Korea Unveils Tax Revisions Bill
9/8/2011
South Korea’s Ministry of Strategy and Finance has unveiled its tax revision bill, which will form the basis of the government’s policies and budget for the next year, but, at the same time, has had to renounce a planned reduction in income and corporate taxes.
Tentative Agreement On KORUS FTA In Seoul
9/6/2011
While not resolving their continuing differences, South Korea’s ruling Grand National Party and the main opposition Democratic Party have managed to reach an agreement to proceed with the South Korea-United States free trade agreement ratification process at the same pace as the United States Congress.
KORUS FTA Not Up For Renegotiation, Says Kim
8/30/2011
Despite demands from parliamentary opposition parties, South Korea’s Trade Minister Kim Jong-hoon has stressed that the South Korea-United States free trade agreement will not be renegotiated.
South Korea Commits To Lower Corporate Taxes
8/24/2011
South Korea’s Finance Minister, Bahk Jae-wan, has confirmed his support for the government’s long-standing plan to reduce corporate taxes from next year.
Lee Stresses Importance Of KORUS FTA
8/23/2011
In a radio and internet address, South Korea’s President Lee Myung-bak has emphasized the importance of the global market for the country and, within that context, the government’s core strategy of securing free trade agreements.
Turkey Hopes For Progress In FTA With South Korea
8/16/2011
Turkey’s Economy Minister Zafer Çaglayan has said that it is hoped that substantial progress can be made in negotiations on the proposed free trade agreement between Turkey and South Korea by the end of this year.
South Korea, Bahamas Sign TIEA
8/8/2011
The South Korean Ambassador to the United States, Han Duck-soo and the Bahamian Ambassador, Cornelius Smith, have signed a bilateral tax information exchange agreement at the South Korean Embassy in Washington.
South Korea Introduces Bank Levy
8/3/2011
In a further measure to ease capital volatility due, particularly, to foreign capital flows during periods of global financial uncertainty, the South Korea’s Ministry of Strategy and Finance has decided to impose a levy on banks’ foreign-currency liabilities from August 1.
Asian FDI Reached Records Last Year
8/1/2011
The United Nations Conference on Trade and Development, in its World Investment Report 2011, points out that, while global foreign direct investment has not yet bounced back to pre-crisis levels, some regions, and particularly Asia, show a better recovery than others.
South Korea-Peru FTA To Take Effect
7/27/2011
The bilateral free trade agreement between South Korea and Peru, which was signed in March this year in Seoul, and was then ratified by South Korea's National Assembly late last month, will take effect on August 1.
Korean Lawmakers Want US FTA Renegotiated
7/22/2011
While the South Korean government and the ruling Grand National Party are looking for parliamentary approval of the signed South Korea–United States free trade agreement next month, the opposition Democratic Party is still looking for major changes.
South Korea To Investigate Offshore Bank Accounts
7/15/2011
South Korea’s National Tax Service has announced that it will investigate offshore bank accounts held by taxpayers with balances of more than KRW1bn.
Congress Split On Trade Assistance Law
7/7/2011
The United States House of Representatives Ways and Means Committee has issued a notice of a meeting to consider the draft implementing proposals for the pending free trade agreements with Colombia, Panama and South Korea, but without the extension to Trade Adjustment Assistance which the government had included.
Republicans Boycott US Senate FTA Review
7/6/2011
The United States Senate Committee on Finance was unable to begin its review of proposed legislation to implement the three pending free trade agreements with South Korea, Colombia and Panama, as a scheduled committee meeting was inquorate when no Republican members attended.
South Korean Parliament Approves FTA With Peru
7/5/2011
The bilateral free trade agreement between South Korea and Peru, which was signed on March 21 in Seoul, has now been ratified by South Korea's National Assembly, after previously being passed by the foreign affairs and trade committee.
EU, South Korea FTA Effective
7/5/2011
After its signing in October 2010, following negotiations which began in April 2007, the South Korea-European Union free trade agreement, the EU's first trade deal with an Asian country, came into effect on July 1, 2011.
KORUS FTA Faces Renegotiation
7/1/2011
During a meeting with South Korea’s President Lee Myung-bak, the parliamentary opposition leader, Sohn Hak-kyu, has insisted that the text of the South Korea-United States free trade agreement should be renegotiated.
US Senate Takes Pending FTAs Forward
7/1/2011
On June 30, the United States Senate Committee on Finance began to review and make recommendations on proposed legislation to implement the three pending free trade agreements with South Korea, Colombia and Panama, that also includes an extension of Trade Adjustment Assistance.
USPTO Develops Projects With Korean, Nordic, Israel Patent Offices
6/24/2011
The United States Patent and Trademark Office has announced three new and expanded pilot projects with the Nordic Patent Institute, the Israel Patent Office and the Korean Intellectual Property Office, respectively, to allow applicants to obtain corresponding patents faster and more efficiently in each country.
South Korea Extends Reduced Import Tariffs
6/22/2011
The South Korean Ministry of Strategy and Finance has disclosed that the government intends to extend the import duty reductions or exemptions on certain products, and in particular those used by low and middle-income families in the country, thereby reducing inflationary pressures.
South Korea To Utilise Its TIEAs
6/15/2011
South Korea’s National Tax Service is looking to utilise its current and planned tax information exchange agreements with other countries to investigate taxpayers with suspected undeclared foreign bank accounts.
South Korea Joins Trademarks G4
6/13/2011
South Korea will become a full member of the Trilateral Co-operation between the trademark offices of the United States, Europe and Japan, during their next conference later this year.
Korea Boosts Links With Pacific Islands
6/7/2011
A number of tax information exchange agreements were due signed at the first Korea-Pacific Islands Foreign Ministers' Meeting, held recently in the Korean capital Seoul, where ministers met to discuss enhancing cooperation in various spheres.
South Korea Corrects KORUS FTA Text
6/6/2011
South Korea's government has approved a corrected bill for the ratification by parliament of the South Korea-United States free trade agreement, after withdrawing the previous bill to correct translation errors.
South Korea Mulls Rice Import Tariffs
5/30/2011
The South Korean government is considering whether to impose tariffs on rice imports next year, thereby signalling the end of the current minimum market access mechanism.
Trade Restrictions On The Rise
5/26/2011
Global trade and investment appear to be facing opposing forces both pushing and pulling against the prospects for economic recovery, as governments attempt to attract foreign investment on the one hand while shielding their economies from foreign competition by raising trade barriers on the other, according to a new report.
Asian Powers Advance Tripartite FTA
5/26/2011
In their fourth joint leaders’ meeting, and the first since Japan’s earthquake and tsunami in March, Japan’s Prime Minister Naoto Kan, China’s Premier Wen Jiabao and South Korea’s President Lee Myung-bak have agreed to increase their efforts to conclude a tripartite free trade agreement between their countries.
APEC Stresses Doha Urgency
5/24/2011
A major negotiating breakthrough is required if the Doha Round is to reach a successful conclusion, with many gaps remaining unbridgeable, the Asia-Pacific Economic Cooperation organization has said.
South Korea, Indonesia To Study Bilateral FTA
5/19/2011
The South Korean and Indonesian governments have agreed to undertake a joint feasibility study on a possible bilateral free trade agreement.
US Returns To Top Of World Competitiveness Rankings
5/20/2011
The Swiss business school, IMD, has announced the rankings from its 2011 World Competitiveness Yearbook, which places the United States and Hong Kong as the most competitive countries.
White House Ties FTA Approvals To Jobs Aid Package
5/19/2011
Gene Sperling, Director of the National Economic Council, has disclosed that the United States' three pending free trade agreements with South Korea, Panama and Colombia will probably be delayed if expansion of the Trade Adjustment Assistance programme cannot be agreed at the same time.
FTAs To Boost US Agriculture, Says Kirk
5/17/2011
The United States House of Representatives Agriculture Committee has held a public hearing to examine the three pending free trade agreements with Colombia, Panama, and South Korea, and the issues surrounding their implementation.
Malaysia, South Korea Study Possible FTA
5/9/2011
Following recent meetings, Malaysia and South Korea have agreed to undertake separate feasibility studies on a bilateral free trade agreement.
USTR Ready To Discuss FTA Bills With Congress
5/6/2011
The United States government has indicated its readiness to begin technical discussions with congressional staff on the draft implementing bills and draft statements of administrative action for the pending free trade agreements with South Korea, Colombia, and Panama.
South Korean Parliament Passes FTA With EU
5/5/2011
Despite continued opposition from the main opposition Democratic Party, the ruling Grand National Party pushed approval of the South Korea-European Union free trade agreement through the South Korean parliament on May 5.
South Korea Further Reduces Import Tariffs
5/4/2011
The South Korean government has announced that it will reduce or eliminate import tariffs on nine more food products, which are widely used by low and middle-income families in the country, thereby reducing inflationary pressures.
APEC Business Leaders Call For Free Trade Deal
5/3/2011
The APEC Business Advisory Council, formed of business leaders from the 21 economies of the Asia-Pacific Economic Cooperation have recommended, during a recent meeting in Seoul, that concrete steps should be taken to realise a Free Trade Area of the Asia-Pacific.
China, Japan, South Korea To Accelerate Tripartite FTA Study
4/27/2011
A joint statement released after a meeting in Tokyo of trade ministers from Japan, China and South Korea stated that they had agreed to accelerate the work of a current joint study on a tripartite free trade agreement.
WIPO Marks International Patent Milestone
4/20/2011
The two millionth international patent application under the Patent Cooperation Treaty of the World International Property Organization was filed recently by US-based mobile technology company Qualcomm.
EU-Korea FTA Faces Obstacles
4/19/2011
Following a previous delay while translation errors were corrected, approval of South Korea’s free trade agreement with the European Union was further delayed by a rejection from its parliamentary subcommittee on trade and foreign affairs.
International Trademark Filing Recovered Last Year
4/5/2011
It has been disclosed that international trademark activity recovered in 2010 with the World Intellectual Property Organization receiving almost 40,000 applications under the Madrid System for the International Registration of Trademarks, a 12.8% annual growth rate.
Translation Errors May Delay EU-Korea FTA
4/5/2011
Kim Jong-hoon, South Korea's Trade Minister, has publicly apologized for the translation errors that were found in the Korean language text of the free trade agreement with the European Union.
South Korea Seeks Improved Compliance
4/1/2011
South Korea’s Finance Minister, Yoon Jeung-hyun, has confirmed that, while the country’s fiscal position has improved, the government will still look for improved tax compliance, particularly from businesses.
South Korea Maintains Lower Property Tax
3/25/2011
In an effort to reduce the already-high level of private debt in South Korea, the government has decided to end its previous relaxation of mortgage lending rules, but has also decided to maintain lower taxes to reduce the resultant effect on the property market.
London Tops Financial Centres League
3/24/2011
The latest Global Financial Centres Index, produced by the Z/Yen Group, showed that London again came out on top, followed closely by New York and Hong Kong, although confidence amongst financial services professionals seemed to have fallen in the past six months, as is shown by lower overall ratings.
US Progressing Pending FTAs
3/11/2011
In his testimony before the United States Senate’s Finance Committee on March 9, the United States Trade Representative Ron Kirk gave further details on the government’s efforts to progress the pending free trade agreements with South Korea, Panama and Colombia.

 

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