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The Japan Fair Trade Commission has slapped Panasonic and two South Korean competitors with hefty fines after finding them guilty of price-fixing. LG Electronics, Panasonic, and Samsung have been collectively fined US$37 million for running a cartel in cathode-ray tube television sets from as far back as 2003. The commission found that the three companies [...]
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A visit to Korea by Queensland Minister for Trade Stephen Robertson earlier this week has progressed talks on potential sustainable energy joint projects. The Korean government has allocated the equivalent of A$1.1 billion towards sustainable energy production initiatives. “Korean resource and energy companies are looking for investment opportunities overseas that can help them secure a [...]
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Investment interests in the Gorgon gas export project are expected to come to fruition this week, after all partners secure respective board clearance to proceed. The green light on investment will come after last week’s win: a $70 billion gas deal between Chevron and companies in Japan and Korea. The Chevron deal included an equity [...]
...read moreAccording to Felix Resources coal export markets in Japan, Korea and Taiwan are almost back to full capacity, suggesting the health among the region’s biggest coal buyers is improving.
...read moreAustralian credit agency, the Export Finance and Insurance Corporation (EFIC), yesterday announced it had signed a Reciprocal Reinsurance Agreement with its Korean counterpart, the Korea Export Insurance Corporation (KEIC). The agreement will assist collaboration between Australian and Korean companies with regard to international contracts. Businesses will also benefit from the agreement’s streamlined financing and administrative [...]
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The Federal Government will provide $2.75 million in funding to seven projects designed to boost the study of Asian languages and cultures in Australia. Acting Minister for Education Mark Arbib announced the first round recipients of the Strategic Collaboration and Partnership Fund, which is part of the National Asian Languages and Studies in Schools Program. [...]
...read moreThe European Union and South Korea have reached the end of free trade negotiations. The forthcoming free trade agreement is expected to deliver about $100 billion more in bilateral trade between the two economies. President Lee Myung-bak and Swedish Prime Minister Fredrik Reinfeldt announced that the two-year negotiation period had ended and the official process [...]
...read moreSouth Korea’s export earnings fell at a slower rate than expected, allowing the Asian nation to record a record US$7.4 billion trade surplus in June, according to Korean Ministry of Knowledge Economy data. While exports from South Korea fell 11.3 percent compared with the same period last year, imports plunged at a significantly greater rate, [...]
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Exports of primary products including food, fuels and minerals increased 50.7 percent to $152.2 billion last year, according to Exports of Primary and Manufactured Products 2008, a report released yesterday by the Department of Foreign Affairs and Trade (DFAT). The boost in export earnings came from high prices for coal and iron ore products, which [...]
...read moreFigures released by the USA show that its imports fell 1.5 percent in April, marking an overall plunge of 38 percent in monthly imports compared with its peak in July last year. While the speed of decline has eased, the trade results – also taking into account a 3.1 percent decline in their exports from [...]
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