SEOUL, June 10 (Korea Bizwire) – Earlier this week, the special advisory committee of state affairs planning — a presidential transition team appointed by President Moon Jae-in — reaffirmed one of Moon’s campaign pledges to raise the minimum wage to 10,000 won by 2020 at a press briefing held in central Seoul. The spokesperson of [...]
SEJONG, June 9 (Korea Bizwire) – An upturn in global trade and exports has been helping the South Korean economy recover to some extent, but the gains are weighed down by flaccid domestic demand, including investment and private consumption, a government report said Friday. “The South Korean economy has been on a upside cycle thanks [...]
SEJONG, June 8 (Korea Bizwire) – The South Korean economy has been on a modest recovery path thanks to brisk exports and investment despite a slight downturn in industrial output, a state-run think tank said Thursday. “The Korean economy maintained a moderate improvement led by exports and investment demand, although industrial output growth moderated slightly,” [...]
SEJONG, June 8 (Korea Bizwire) – The growth of real income of South Koreans has risen at a slower pace than that of economic growth over the past five years, government data showed Wednesday. The average real income of local businesses with at least five employees was 3.39 million (US$3,000) per month last year, up 2.8 percent from a year earlier, according to the data by the Ministry of Strategy and [...]
WASHINGTON, Jun. 8 (Korea Bizwire) — South Koreans have one of the gloomiest economic views in the world, with 84 percent saying the fourth-largest Asian economy is in bad shape, a U.S. survey showed Wednesday. South Korea had the second-most negative views, with only 15 percent saying their economy is in good condition, the Pew [...]
SEOUL, June 7 (Korea Bizwire) – South Korean conglomerate SK Group held its 2017 SK Global Forum in New Jersey, America last Saturday in search of global human resources, as part of its preparation for a foray into the global market, the company said yesterday. Members of SK Group’s senior management team including SK Energy [...]
SEOUL, June 7 (Korea Bizwire) – With the Korea Insurance Development Institute due to reveal its reference net premium rates for electric cars by the end of June, industry watchers are speculating that premiums for EVs will be some 10 percent lower than gasoline or diesel-powered vehicles. The reference premium rate will be based on [...]
SEOUL, June 7 (Korea Bizwire) – The ratio of the middle class in South Korea fell slightly last year amid growing income disparity, the finance ministry said Tuesday. The ratio of the middle class stood at 65.7 percent in 2016, down from 67.4 percent a year earlier, according to the ministry. South Korea defines the middle [...]
SEOUL, June 5 (Korea Bizwire) – South Korea’s latest economic gains do not indicate that the country’s financial condition is on a firm track, as the increases can be attributed to investment in the construction sector and not improvements in private consumption, a research showed Sunday. Hyundai Research Institute (HRI) said in a report that [...]
SEOUL, June 2 (Korea Bizwire) – Samsung Electronics Co. said Friday it has reached an agreement with three local banks to allow users to use banking services via its voice command program, Bixby. The South Korean tech giant said under the project with Shinhan Bank, Woori Bank and KEB Hana Bank, users can ask the [...]