South Korea's outbound shipments have been falling on-year for five consecutive months and to turn things around, economic related ministries unveiled new measures on Wednesday to support small and mid-sized firms selling their products online.
The government aims to foster 15-thousand 'online-export firms' by 2022 through providing financial support in terms of storing the export items, which help save the firms distribution costs and enhance their price competitiveness in the online market, and collaborating with global platforms and provide lessons on how companies can actually upload or sell their products.
The ministry has allocated around 36-million U.S. dollars this year to support online export activities.
Speaking over the phone for the first time in nearly a month and in the wake of the North's recent projectile launches, Presidents Moon Jae-in and Donald Trump discussed ways to resume talks on scrapping North Korea's nuclear program, while maintaining the current momentum for dialogue.
South Korea's presidential spokesperson said in a statement that the leaders also talked about ways to prevent Pyeongyang running off the tracks in regards to the denuclearization negotiations.
Meanwhile, a Blue House official says procedures to resume food aid to the North will begin soon, but it's too early to talk about specifics.
The official said details such as the amount and kind of food to be sent were not discussed by Moon and Trump in their phone call, and it's still up for discussion whether the aid will be sent directly or via international organizations.
U.S. Special Representative for North Korea, Stephen Biegun will arrive in South Korea on Wednesday night to discuss North Korea's latest firing of projectiles off its east coast.
Staying in Seoul until Friday, Seoul's foreign ministry says Biegun will meet with his South Korean counterpart, Lee Do-hoon.
He's also expected to hold a meeting of the Seoul-Washington working group on ways to resume dialogue between Pyeongyang and Washington.
Despite the atmosphere surrounding the trade talks shifting dramatically in the span of a week, the Chinese delegation led by Vice Premier Liu He is heading to Washington for another round of trade negotiations.
China's Commerce Ministry announced on Tuesday that the Chinese delegation will hold talks with their American counterparts on Thursday and Friday.
The trip comes in the wake of President Trump's announcement on Sunday that he would raise U.S. tariffs on Friday to 25-percent from the previous 10-percent for 2-hundred-billion dollars' worth of Chinese goods.
U.S. Treasury Secretary Steven Mnuchin has said that if the Chinese trade delegation brings a new proposal with them on Thursday, the U.S. delegation will review it and pass it to President Trump.
Source: Arirang News
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