Tag - KITA

KITA pledges efforts to boost Korea's exports

A local association of exporters in South Korea on Thursday vowed all-out efforts to boost the country’s exports this year, despite what it called many lingering risks at home and abroad. “The ongoing political turmoil continues to have a great impact on our economy and exports,” said Kim In-ho, head of the Korea International Trade Association. “The country failed to achieve its goal to expand exports quantitatively and reach $1 trillion in trade last year, but I believe we have showed [...]


KITA paints bleak outlook for Korea Inc.

Korea will face many obstacles in jumpstarting its sagging economy next year as exports, its main growth engine, remain in the doldrums amid continued sluggish global demand and increasing protectionism, the head of the export promotion body warned Monday. Korea International Trade Association (KITA) Chairman Kim In-ho said Asia’s fourth-largest economy will face increasing uncertainties, propelled by growing protectionism, U.S. rate hikes, China’s industrial restructuring and Britain’s exit from the European Union. “It will take some time for the world economy [...]


Alipay opens first overseas customer center in Korea

Alipay, China’s largest online payment service provider, opened its first-ever overseas customer center here in Seoul on Tuesday, a move that will help boost the Chinese firm’s market presence while also helping to attract more Chinese visitors to the country, a local trade agency said. The Alipay service center is located at Seoul’s COEX exhibition center, and will provide various customer services to Chinese visitors ranging from online payment services to luggage storage and business lounge services, according to the [...]