SEOUL, April 30 (Korea Bizwire) — South Korea recorded the biggest fall in exports to China among major exporters to the country in the first quarter, China’s trade data showed Sunday. Exports to China plunged 28 percent in the first quarter from a year earlier due mainly to a sharp decline in semiconductor shipments, the [...]
SEOUL, April 30 (Korea Bizwire) — Debt among those in their 20s and 30s jumped more than 27 percent over the past three years since the COVID-19 pandemic hit, indicating they suffered financial difficulties due to rising home prices and an economic slowdown, central bank data showed Sunday. In the fourth quarter of 2022, overall [...]
SEOUL, April 14 (Korea Bizwire) —Homeplus, a large discount store in South Korea, has reported a 36% increase in sales of its own-brand “Homeplus Signature” products from January to March compared to the same period last year. The sales of private label products were particularly high in food categories such as refrigerated convenience foods, snacks, [...]
SEOUL, April 6 (Korea Bizwire) — Foreign direct investment (FDI) pledges to South Korea rose 3.4 percent on-year in the first quarter of 2023 to reach the highest first-quarter figure ever, data showed Thursday. The country received US$5.63 billion of FDI commitments in the January-March period, compared with $5.45 billion logged a year earlier, according [...]
SEOUL, April 2 (Korea Bizwire) — South Korean exporting companies saved 6.6 trillion won (US$5.8 billion) due to lower tariffs in 2021 thanks to the country’s free trade agreements (FTAs) with six major economies, including the United States and the European Union, government data showed Sunday. According to the trade data compiled by the Ministry [...]
SEOUL, March 24 (Korea Bizwire) – South Korea’s overseas direct investment slightly increased in 2022 on-year to a fresh high on the back of the chips and automobile industries, although the overall growth was limited in the face of economic uncertainties, data showed Friday. The value of investments made overseas by South Korean companies reached [...]
SEOUL, March 16 (Korea Bizwire) — A number of universities are offering breakfast at an affordable price as consumer prices continue to rise. Kyung Hee University has been selling breakfasts for 1,000 won (US$0.76) to 100 people on a first-come, first-serve basis, since Monday. Seoul National University, Korea University, Sungkyunkwan University and Kangwon National University [...]
SEOUL, March 12 (Korea Bizwire) — The collapse of the United States’ Silicon Valley Bank (SVB) could heighten volatility and uncertainties in the financial market, South Korea’s finance ministry said Sunday, vowing to beef up monitoring and swift responses to minimize potential impacts on the economy. On Friday, U.S. banking regulators shut down the startup-focused [...]
SEOUL, March 7 (Korea Bizwire) – Korea faces a slowdown in job growth due to changes in its demographic structure, which will reduce the country’s potential growth rate in the coming years. According to Park Yang-soo, head of the Bank of Korea’s Economic Research Institute, the average annual increase in the number of employed people [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korea’s Engel’s coefficient jumped in the post-pandemic era far higher than in other major countries, indicating that low-income earners are struggling more financially in relative terms, a private think tank said Thursday. The Korea Economic Research Institute (KERI) reported that the Engel’s coefficient for the Asia’s fourth-largest economy [...]