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- Korea, China sign free trade agreement
Korea, China sign free trade agreement(The Korea Herald) South Korea and China signed a free trade agreement Monday that is expected to become a platform for the two economies seeking new growth engines and to bring the 23-year bilateral cooperation up to a new level. The FTA will enable a market with a population of 1.4 billion and GDP of $12 trillion. It also makes Korea the only country that has FTAs with the world’s three largest economies ― the U.S., EU and China. Korea now has deals encompassing 52 nations, accounting for 73.45 percent of the global economy. The signing of the FTA was held between Korean Trade Minister Yoon Sang-jick and his Chinese counterpart Gao Hucheng at the Grand Hyatt Seoul Hotel. The pact now awaits the National Assembly’s ratification and is expected to go into effect six months from the respective governments’ notification of the approval. For the full text of the article, click here.
- 'Smart' clothes generate electricity
'Smart' clothes generate electricity(Science News for Students) -New Fabric harvests energy from its wearer- Scientists in South Korea have developed a flexible, foldable and wearable fabric that generates electricity as it bends and flexes. A person wearing a shirt tailored from the material only has to move around to power a small screen or other electronic devices. The new fabric combines different materials. The top and bottom layers are a cloth coated with silver. The middle layer contains the zinc oxide coated with a polymer. (A polymer is a substance whose molecules are made of long chains of repeating groups of atoms.) For the full text of article, click here.
- Vietnam economist urges restrictions on textile projects Vietnam economist urges restrictions on textile projects(Ecotextile News)New figures suggest foreign-owned businesses are continuing to ramp up their investment in Vietnam's garment manufacturing sector in anticipation of the potential Trans-Pacific Partnership (TPP) – yet one of the country's leading economists has urged Vietnam's authorities to consider restricting the number of textile and garment projects due to environmental concerns. Latest figures from the Vietnamese Ministry of Planning and Investment's Foreign Investment Agency ranked South Korea as the largest inward investor into Vietnam for 2014 with investments totalling US$7.32 billion...For the full text of article, click here.
- South Korea & Vietnam aim to cooperate in textiles sector South Korea & Vietnam aim to cooperate in textiles sector(fibre2fashion)The Ministry of Industry and Trade of Vietnam, with support from the Vietnamese Embassy in Korea and the Vietnam Textile and Apparel Association (VITAS) collaborated with the Korean Textile Association, and organized a seminar in the South Korean capital city of Seoul, in order to promote cooperation between the two countries in the textiles sector.More than 160 textile industry representatives and government officials from both the countries attended the event where presentations were made about mechanisms and policies for development of Vietnam’s textile and garment industry.For the full text of article, clikc here.
- Korea-Canada FTA Expected to Lower Prices of Canada Goose Jackets Korea-Canada FTA Expected to Lower Prices of Canada Goose JacketsThe Ministry of Trade, Industry, and Energy said on December 14 that the free trade agreement between Canada and Korea will be officially kicked off on the first day of January next year as the Canadian government approved a proposal to ratify the FTA. Earlier on December 2, the Korean National Assembly passed the ratification proposal.With the free trade agreement, the 13-percent tariff duties imposed on jackets, blazers, and jumpers will be eliminated from the first day of 2015.For the full text of article, click here.