The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_X_on_2023.svgbt_X_over_2023.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_X_on_2023.svgbt_X_over_2023.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Song Ji-hyo to make silver screen return in 'House of Meeting'

  • 3

    First S. Korea spy satellite successfully launched into orbit

  • 5

    NewJeans wins 2 grand prizes at Melon Music Awards 2023

  • 7

    5 Korea tourism clips top 225 mil. views

  • 9

    Nexon workers in conflict with umbrella union over stance on feminism

  • 11

    Is ruling party's reform drive at end of road?

  • 13

    Daegu mayor criticizes officials for spreading false hope about Expo bid

  • 15

    INTERVIEWHip-hop group Uptown returns after 13 years with new lineup

  • 17

    Rights activists criticize wage discrimination against migrant boat crews

  • 19

    Yoon's state visit to Netherlands to focus on semiconductor cooperation

  • 2

    Seoul says FEOC guidance reduces uncertainty, will continue close consultation with US

  • 4

    N. Korean leader calls for increased aerial combat posture amid tension over satellite launch

  • 6

    INTERVIEWEcolab helps Korean partners profit from ESG management

  • 8

    Tension mounts between Yoon administration, opposition party

  • 10

    Yoon accepts resignation offer of head of state broadcasting watchdog

  • 12

    Half-conscious Koreans

  • 14

    Life expectancy of Koreans falls for first time in 52 years over COVID-19: data

  • 16

    Late Ven. Jaseung's additional notes on last will found at his residence

  • 18

    DL, SPC chiefs apologize for worker deaths under poor labor conditions

  • 20

    Hyundai chief pledges to support globalization of archery

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Sun, December 3, 2023 | 21:28
Briefs
Korean exporters face growing protectionism
Posted : 2012-09-02 17:19
Updated :  
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Korean companies are confronted with growing trade barriers in overseas markets as major economies toughen import rules amid the eurozone debt crisis and a subsequent global economic slowdown, industry sources said Sunday.

As of the end of July, Korean products were affected by 122 anti-dumping measures, safeguards and other import regulations worldwide, according to the sources and the state-run Korea Trade-Investment Promotion Agency (KOTRA).

In the first half of this year alone, 16 new complaints involving import regulations were filed against Korean products, a new first-half high.

Concern over foreign trade barriers is escalating amid a steady increase in overseas shipments of electronics products, automobiles and auto parts, with the United States and other major economies moving to regulate imports from Korea.

In late July, the United States slapped an anti-dumping tariff of up to 82 percent on large washing machines for household use.

France recently requested that the European Union open an investigation of allegations that Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motor Corp. dumped cars there.

Following the 2008 global economic crisis, South Korea companies have also faced a growing number of nontrade barriers, such as lawsuits involving patents and other intellectual property rights, according to the sources.

In a high-profile case, a U.S. federal jury recommended on Aug. 24 that Samsung pay $1.05 billion in damages to Apple for infringing on six of the iPhone maker's patents. The jury rejected Samsung's counter claims.

On Friday, a U.S. federal judge in Virginia banned South Korea's leading textile maker Kolon Industries Inc. from producing and selling any aramid fibers, a high-strength synthetic fiber, for 20 years, ordering Kolon to pay 1 trillion won in damages to chemical giant DuPont Co.

The spread of protectionism is making a dent in the export-driven economy of South Korea already hit by a nosedive in overseas shipments.

According to a government tally, Korea's exports shrank 6.2 percent on-year to $42.97 billion in August, affected by the global economic slump stemming from the fiscal crisis in Europe.

A report by the state-run Korea Institute for International Economic Policy estimated South Korea's exports could drop an additional 1-1.5 percent if protectionist moves hamper go unresolved.

Experts called on South Korean exporters to ramp up efforts to tide over trade barriers through technological innovation.

"Local exporting companies should inject more money into research and development to turn out innovative products that don't run afoul of major economies' import controls," said Lim Hee-jung, a researcher at Hyundai Research Institute. (Yonhap)
 
wooribank
LG group
Top 10 Stories
1[INTERVIEW] Ecolab helps Korean partners profit from ESG management INTERVIEWEcolab helps Korean partners profit from ESG management
2Major conglomerates speed up generational shifts in leadershipMajor conglomerates speed up generational shifts in leadership
3PPP slams abstainers in Assembly resolution on China's forced return of NK defectors PPP slams abstainers in Assembly resolution on China's forced return of NK defectors
4KOICA’s global supporters conclude remarkable journey with grand finale showKOICA’s global supporters conclude remarkable journey with grand finale show
5Son-dol: a cold day for a ferryman and a merchantSon-dol: a cold day for a ferryman and a merchant
6[INTERVIEW] 'Lifeline for migrant workers in Korea' - Rev. Kim fights for foreign employees' rights INTERVIEW'Lifeline for migrant workers in Korea' - Rev. Kim fights for foreign employees' rights
7[INTERVIEW] Korea to work with US, Japan to fight climate change INTERVIEWKorea to work with US, Japan to fight climate change
8Korean economy to start shrinking by 2050 if low birthrate unaddressed: BOK reportKorean economy to start shrinking by 2050 if low birthrate unaddressed: BOK report
9Space race heats up between two Koreas after Seoul launches spy satelliteSpace race heats up between two Koreas after Seoul launches spy satellite
10[ANALYSIS] Has N. Korean leader's daughter been confirmed as heir apparent?ANALYSISHas N. Korean leader's daughter been confirmed as heir apparent?
Top 5 Entertainment News
1JYP to host annual audition in JanuaryJYP to host annual audition in January
2Taipei Philharmonic Orchestra dazzles audience at Korea International Festival Taipei Philharmonic Orchestra dazzles audience at Korea International Festival
3[INTERVIEW] Hip-hop group Uptown returns after 13 years with new lineup INTERVIEWHip-hop group Uptown returns after 13 years with new lineup
4ONE PACT debuts hoping to leave big impact on K-pop scene ONE PACT debuts hoping to leave big impact on K-pop scene
5[INTERVIEW] ASTRO members aim to shine in musical theaterINTERVIEWASTRO members aim to shine in musical theater
DARKROOM
  • It's beginning to look a lot like Christmas

    It's beginning to look a lot like Christmas

  • 2023 Thanksgiving parade in NYC

    2023 Thanksgiving parade in NYC

  • Appreciation of autumn colors

    Appreciation of autumn colors

  • Our children deserve better

    Our children deserve better

  • Israel-Gaza conflict erupts into war

    Israel-Gaza conflict erupts into war

  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher: Oh Young-jin
Digital News Email: webmaster@koreatimes.co.kr
Tel: 02-724-2114
Online newspaper registration No: 서울,아52844
Date of registration: 2020.02.05
Masthead: The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group