SEOUL, June 4 (Korea Bizwire) — South Korea’s cross-border mergers and acquisitions (M&A) in the ICT sector accounted for 15.7 percent of all such M&As, falling behind other major technology-driven countries, a report from the Institute for International Trade showed Monday. According to the report, 16.2 percent of all M&As around the globe last year [...]
SEOUL, May 25 (Korea Bizwire) — Prices of daily necessities in South Korea are going up following increased food and eating-out costs, adding to the country’s overall inflation, sources said Friday. According to the sources from the convenience store sector, tissue and battery makers have recently decided to jack up prices by up to 10 [...]
SEOUL, May 23 (Korea Bizwire) — Eating-out expenses and prices of processed foods in South Korea have risen significantly over the past year, data showed Wednesday, in an additional burden to local consumers. According to the data from the Korea Consumer Agency, six out of the eight dishes most favored by South Koreans when eating [...]
SEOUL, May 1 (Korea Bizwire) — A shift in the government’s Northern Economic Cooperation policy is expected as economic cooperation between the two Koreas seems more likely to materialize following the adoption of the Panmunjom Declaration. The Ministry of Trade, Industry and Energy has initiated internal assessments to prepare for a new age of inter-Korea [...]
SEJONG, Apr. 30 (Korea Bizwire) — Nonregular workers in South Korea have seen their wages rise nearly 30 percent over the past decade, but the increase has almost been offset by inflation, data showed Sunday. The gross monthly wages of temporary workers in Asia’s fourth-largest economy stood at 1.51 million won (US$1,410) as of the [...]
SEOUL, Apr. 25 (Korea Bizwire) — South Korean companies operating in China are being encouraged to make use of the Chinese government’s support for the creation of intellectual property. Speaking to South Korean business owners and students during a forum in Shanghai on Sunday, Seo Dong-wook, the director of the Shanghai branch of the Korean Cultural [...]
SEOUL, Apr. 23 (Korea Bizwire) – The employment-to-gross domestic product (GDP) ratio fell to a record low last year, data from the central bank and statistical agency showed on Monday, with the speed of the fall causing more alarm among observers of the economy. The ratio measures the number of newly employed workers per 1 [...]
SEOUL, April 12 (Korea Bizwire) – South Korea and Sudan held a high-level policy consultation meeting on Thursday to discuss strengthening economic cooperation in the wake of the lifting of American sanctions on Sudan last year, the foreign ministry here said. Deputy Foreign Minister for Economic Affairs Yun Kang-hyeon welcomed the lifting of 20-year-old sanctions and discussed cooperation with Sudan’s Undersecretary Abdel-ghani Elnaim, [...]
SEOUL, April 10 (Korea Bizwire) – South Korea and the World Economic Forum (WEF) will study ways to set up a sister center to the WEF’s Center for the Fourth Industrial Revolution, and work together on related research activities, Seoul’s chief economic policymaker said Tuesday. “We proposed working together for the establishment of a new [...]
SEOUL, April 4 (Korea Bizwire) — Private spending in South Korea fell to a record low last year amid gloomy employment prospects and rapid population aging. The ratio of private spending to the country’s gross domestic product (GDP) reached 48.1 percent in 2017, down 0.6 percentage points from a year ago, the lowest since records began [...]