Latest news with #KDI
Broadcast Pro
04-04-2025
- Business
- Broadcast Pro
Kanal D International expands sales team to boost Turkish drama distribution
Kanal D International appoints Mesut Özkeçeci as Europe sales manager and expands Sangerim Zhakhina's role to cover CIS, CEE and the Baltics. Kanal D International (KDI) has made significant additions to its global sales team, reinforcing its strategy to expand the international reach of Turkish content. Mesut Özkeçeci has been appointed as Sales Manager for Europe. With a professional background in acting and over 15 years of sales experience across multiple industries, Özkeçeci brings a blend of creative insight and commercial acumen. Fluent in both English and Italian, he will play a pivotal role in broadening the footprint of KDI's acclaimed Turkish dramas across European markets. Meanwhile, Sangerim Zhakhina has taken on an expanded role as Sales Manager for the CIS, Central and Eastern Europe, and the Baltics. Known for her strong expertise in content distribution, Zhakhina will continue driving growth in these key territories, further strengthening KDI's presence across the region. These appointments underline Kanal D International's continued commitment to growing its global distribution network and bringing premium Turkish storytelling to audiences around the world.
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Korea Herald
12-02-2025
- Business
- Korea Herald
[Editorial] Shadow over economy
KDI cuts growth outlook; Seoul should weather US tariff crisis through deals The Korea Development Institute, a state-run economic think tank, slashed its growth outlook for the South Korean economy this year on Tuesday to 1.6 percent, down 0.4 percentage point from its previous projection three months ago. It said in its latest report that domestically, political instability has weakened economic sentiment, while externally, policy shifts in the US have worsened trade conditions. It expected exports to slow significantly this year, as global trade tensions have intensified following the inauguration of US President Donald Trump. South Korea came under the influence of Trump's tariffs 22 days after his second presidency began. The tariffs that he has both imposed and vowed are expected to have an impact widespread and strong enough to jolt the existing international trade order based on the spirit of free trade. Trump signed proclamations on Monday, raising US tariffs on steel and aluminum imports to a flat 25 percent without exceptions or exemptions. These are the first in a series of tariffs he has vowed to impose, with universal tariffs also applicable to every exporting country to the US. During Trump's first term in 2018, South Korea secured an exemption on steel tariffs through negotiations with the US. It restricted the annual duty-free steel quota shipped to the US to 2.63 million tons. But this time, expectations for such an exemption amounted to nothing. The quota will be abolished March 12. South Korea will be slapped with a 25 percent tariff. It has to bear a disadvantage in price competition with American steel. The US accepted the lion's share -- 13.06 percent, or $4.34 billion -- of South Korea's steel exports last year. Trump has reportedly identified automobiles and semiconductors as potential targets for new tariffs. Cars and chips are the mainstay products propping up South Korea's exports and economy. Tariffs on those items will have a more immense influence on the country than steel tariffs. Automobiles and semiconductors accounted for 27 percent and 8 percent, respectively, of South Korea's exports to the US. The two items amounted to more than a third of South Korea's exports to the US. Out of South Korean car exports last year, 49.08 percent, or $34.7 billion in terms of amount, were sold in the US, while 7.53 percent ($10.68 billion) of South Korean semiconductor exports were shipped to the US. Considering economic difficulties at home, US tariffs pose a serious problem. Damage appears to be inevitable. Individual companies have to devise self-help measures such as increasing production on US soil. Trump's tariffs could be a strategy to make his intended deals after imposing them as a means to pile on pressure. Considering he utilized tariffs targeting Canada and Mexico to pressure them over the issues of illegal immigrants and the deadly drug fentanyl, South Korea needs to take a pragmatic diplomacy based on give-and-take negotiations. For the moment, it is worth figuring out ways to reduce the trade surplus with the US, such as increasing imports of US crude oil and natural gas. It would help to highlight South Korean companies' brisk investments in the US semiconductor and automobile industries and their competitive edge in the fields of shipbuilding and ship repair where the US needs help. In the long term, companies should try to expand alternative export markets, while developing product technologies that competitors can hardly catch up to. The best scenario for South Korea would be to gain exemptions through negotiations as it did during Trump's first term. However, this time, South Korea is short on time and in a hopeless situation where a proper counterpart to Trump is absent due to the ongoing impeachment and trial of the president. Nevertheless, Seoul has to try to increase contacts with Washington as much as possible through the acting president and trade minister. South Korea should seek its own practical interests along the way. Much of its growth this year depends on this.
Arab Times
11-02-2025
- Business
- Arab Times
South Korea's top think tank lowers economic growth projection, citing Trump's tariffs
SEOUL, South Korea, Feb 11, (AP): South Korea's top economic think tank slashed its growth forecast for the country's economy for the second time in four months on Tuesday, expressing concern about the impact of U.S. President Donald Trump's expanding tariffs. The Korea Development Institute now projects South Korea's economy to grow by 1.6% in 2025, which is 0.4 percentage points lower than its previous estimate announced in November. Kim Jiyeon, a KDI economist, said the "deterioration of the trade environment' following Trump's inauguration was a major factor. South Korea is also grappling with political instability caused by the impeachment and criminal indictment of President Yoon Suk Yeol after he briefly imposed martial law in December. Domestic demand remains weak due to slowing consumer spending and a declining job market, and the pace of exports is slowing with most key industries aside from semiconductors struggling to find momentum, said Jung Kyuchul, who heads KDI's macroeconomic analysis department. KDI could be further lower its growth projections if Trump's trade actions intensify or South Korea's political turmoil drags on, Jung said. "In November, we assumed that Trump's steps to increase tariffs would proceed gradually over time and wouldn't be carried out so quickly this year, but there have already been tariff increases targeting countries like China,' Jung said in a briefing. "We expected that uncertainties would be gradually resolved after the Trump administration took office, but we are now in a situation where uncertainties have actually grown.' Trump this week announced plans to impose 25% tariffs on all foreign steel and aluminum, following his decision last month to impose 10% duties on all Chinese imports, as he accelerates an aggressive push to reset global trade. Jung said Trump's steel and aluminum tariffs won't likely have a major impact on South Korea's economy, as those products account for less than 1% of its exports to the United States. However, Trump says he is also contemplating tariffs on cars, semiconductors and pharmaceuticals. "Since our semiconductor exports are substantial, the economic impact would be considerable if that sector takes a hit,' Jung said.
Korea Herald
11-02-2025
- Business
- Korea Herald
KDI cuts Korea's growth rate to 1.6% for 2025
Think tank warns prolonged political unrest and worsening trade conditions could further drag down growth State-run Korea Development Institute on Tuesday slashed South Korea's 2025 growth forecast to 1.6 percent, the lowest projection by a local institution so far, underscoring concerns over the country's weakening growth momentum. The revised outlook marks a 0.4 percentage point downgrade from its November forecast of 2 percent. It falls below the Bank of Korea's 1.9 percent projection and the government's 1.8 percent estimate, aligning with the central bank's signal in January that it may lower its forecast by around 0.2 percentage point. Political uncertainty and a deteriorating trade environment were cited as key factors behind the revision. In particular, shifts in US policy following the inauguration of President Donald Trump were identified as the main driver. "Policies under Trump took a different direction than we anticipated. In November, we expected tariff hikes to be implemented gradually, with no swift action this year, but tariffs have already been raised on some countries like China," said Jung Kyu-chul, director of KDI's office of macroeconomic analysis and forecasting, during a briefing on Tuesday. As a result, KDI projected exports to grow by just 1.8 percent, a sharp decline from 6.9 percent last year. With a revised outlook for global semiconductor trade, the forecast for merchandise export growth was lowered from 1.9 percent to 1.5 percent. KDI anticipates consumer sentiment, weakened by ongoing political turmoil following the Dec. 3 martial law declaration, to improve starting in the second quarter. As a result, private consumption growth is forecast to rise to 1.6 percent this year, up from 1.1 percent last year, although revised down from 1.8 percent in November, before the political unrest unfolded. The consumer price inflation projection was retained at 1.6 percent. KDI expects the Korean economy to contract in the first half before rebounding later in the year, forecasting gross domestic product growth of 0.9 percent in the first half and 2.2 percent in the second, bringing the full-year average to 1.6 percent. However, the institute warned that the reality could be worse than projected, suggesting a further downgrade from the 1.6 percent forecast if current risks escalate. "Uncertainty over changes in US trade policy could reduce both domestic and external investment demand, putting downward pressure on exports. ... Domestically, prolonged political instability may delay the recovery of economic sentiment, restricting improvements in domestic demand," it said in the report.
Yahoo
11-02-2025
- Business
- Yahoo
South Korea's top think tank lowers economic growth projection, citing Trump's tariffs
SEOUL, South Korea (AP) — South Korea's top economic think tank slashed its growth forecast for the country's economy for the second time in four months on Tuesday, expressing concern about the impact of U.S. President Donald Trump's expanding tariffs. The Korea Development Institute now projects South Korea's economy to grow by 1.6% in 2025, which is 0.4 percentage points lower than its previous estimate announced in November. Kim Jiyeon, a KDI economist, said the 'deterioration of the trade environment' following Trump's inauguration was a major factor. South Korea is also grappling with political instability caused by the impeachment and criminal indictment of President Yoon Suk Yeol after he briefly imposed martial law in December. Domestic demand remains weak due to slowing consumer spending and a declining job market, and the pace of exports is slowing with most key industries aside from semiconductors struggling to find momentum, said Jung Kyuchul, who heads KDI's macroeconomic analysis department. KDI could be further lower its growth projections if Trump's trade actions intensify or South Korea's political turmoil drags on, Jung said. 'In November, we assumed that Trump's steps to increase tariffs would proceed gradually over time and wouldn't be carried out so quickly this year, but there have already been tariff increases targeting countries like China,' Jung said in a briefing. 'We expected that uncertainties would be gradually resolved after the Trump administration took office, but we are now in a situation where uncertainties have actually grown.' Trump this week announced plans to impose 25% tariffs on all foreign steel and aluminum, following his decision last month to impose 10% duties on all Chinese imports, as he accelerates an aggressive push to reset global trade. Jung said Trump's steel and aluminum tariffs won't likely have a major impact on South Korea's economy, as those products account for less than 1% of its exports to the United States. However, Trump says he is also contemplating tariffs on cars, semiconductors and pharmaceuticals. 'Since our semiconductor exports are substantial, the economic impact would be considerable if that sector takes a hit,' Jung said. Kim Tong-hyung, The Associated Press Sign in to access your portfolio
