SEOUL, May 4 (Korea Bizwire) – South Korean chipmakers are set to benefit from rising demand for semiconductors, a global market research firm said Wednesday. The average price of the mainstay dynamic random-access memory chip (DRAM) product ‘DDR4 4Gb 512Mx8 2133MHz’ jumped more than 12 percent to US$3.09 as of April 28 from $2.75 on March 31, according to DRAMeXchange. The memory and storage [...]
SEOUL, May 4 (Korea Bizwire) – The global market for digital animation is expected to grow at an average of 10.8 percent annually to US$1.17 billion in 2020, an industry report said Wednesday. According to the annual report by the National IT Industry Promotion Agency (NIPA), the global digital cartoon market came to $814 million in 2016, up 15.7 percent from a year earlier. The findings showed digital cartoons accounted for only 4.1 percent of the entire animation industry in 2011 [...]
SEJONG, May 4 (Korea Bizwire) – South Korea’s corporate watchdog said Wednesday that it has slapped a combined 2.2 billion won (US$1.94 million) in fines on six local department stores for abusing their power to control their subcontractors. The companies — Shinsegae Department Store, Lotte Department Store, Hyundai Department Store, Hanwha Galleria, NC Department Store and AK Plaza — were accused of refusing to give back written contracts [...]
SEOUL, May 2 (Korea Bizwire) – Retirees over 50 years old are most glad that they no longer have to deal with stress from work, but many feel that tight finances are dampening their post-retirement life, a survey said Tuesday. In the survey by the National Pension Service, conducted between April and September last year [...]
SEOUL, May 2 (Korea Bizwire) – South Korea’s exports to the United States are expected to suffer losses as much as US$17 billion over five years if the two nations renegotiate a bilateral free trade deal, according to a report on Sunday. South Korea’s businesses remain concerned after U.S. President Donald Trump told Reuters in an interview last week that he will either renegotiate or scrap the free trade deal with South Korea, calling it “horrible.” If tariff [...]
SEOUL, May 2 (Korea Bizwire) – South Korea is investing heavily in education, but its education quality lags far behind rich countries in nurturing talent through skills development, a report showed Sunday. According to the report by Hyundai Research Institute (HRI), a private think tank, South Korea spent 5.9 percent of its gross domestic product on education in 2013. The spending was 0.7 percentage point higher than the average figure for members of the Organization [...]
SEOUL, May 2 (Korea Bizwire) – Chief executive officers (CEOs) leading South Korea’s biggest businesses receive salaries that are on average 21.9-times higher than those of ordinary employees, a local market researcher said Sunday. According to FN Guide, CEOs at the 30 largest companies in terms of market capitalization, took home substantially more pay than the average worker in 2016, with the gap widening to more than 50 [...]
SEOUL, April 29 (Korea Bizwire) – The South Korean book market is at a crossroads. South Koreans now spend less than ever on books, with the average person forking out just over 16,000 won per month, according to a recent report. While more and more young people turn away from books and divert their attention to [...]
SEONGNAM, South Korea, April 28 (Korea Bizwire) – A district court sentenced a woman to two and a half years in prison Friday for falsely accusing a South Korean actor of raping her last year. The Seongnam branch of Suwon District Court convicted the woman, identified only by her last name Kwon, of false accusation [...]
SEOUL, April 28 (Korea Bizwire) – Samsung Heavy Industries Co., a major shipyard here, said Friday that its first-quarter earnings more than tripled from a year earlier on cost-saving measures. Net profit reached 58.7 billion won (US$51.6 million) in the January-March period, compared to a profit of 15.9 billion won a year earlier, the company [...]