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Asset Management Firms’ Q2 Net Down 72 pct amid Sluggish Stock Markets

Asset Management Firms’ Q2 Net Down 72 pct amid Sluggish Stock Markets

SEOUL, Sept. 8 (Korea Bizwire) — Asset management firms in South Korea saw their combined net earnings plunge in the second quarter of this year due to massive investment losses amid sluggish financial markets, data showed Thursday. The combined net income of 380 firms came to 170.1 billion won (US$122.6 million) in the April-June period, [...]

Imported Car Sales Rise 7.8 pct in August amid Chip Shortage

Imported Car Sales Rise 7.8 pct in August amid Chip Shortage

SEOUL, Sept. 5 (Korea Bizwire) – Sales of imported vehicles in South Korea rose 7.8 percent last month from a year earlier despite the extended chip shortage, an industry association said Monday. The number of newly registered foreign vehicles stood at 23,850 units last month, up from 22,116 units a year ago, the Korea Automobile [...]

Duty-free Sales Hit 6-month Low in July on Less Foreign Spending

Duty-free Sales Hit 6-month Low in July on Less Foreign Spending

SEOUL, Sept. 2 (Korea Bizwire) — Duty-free sales in South Korea sank nearly 15 percent to a six-month low in July due to decreased spending by foreigners, industry data showed Friday. Combined sales at duty-free shops in Asia’s fourth-largest economy stood at 1.25 trillion won (US$920 million)) in July, down 14.6 percent from a month [...]

Wage Gap Between Large Firms and SMEs Expanding Again After Pandemic

Wage Gap Between Large Firms and SMEs Expanding Again After Pandemic

SEOUL, Aug. 31 (Korea Bizwire) — After narrowing during the COVID-19 pandemic, the wage gap between employees of large companies and small and medium-sized enterprises (SMEs) is showing signs of expanding again due to the rapid recovery of large companies’ wage growth rate. The wage level of SMEs in proportion to that of large companies [...]

Retail Sales Up 9.7 pct in July amid Eased Virus Curbs

Retail Sales Up 9.7 pct in July amid Eased Virus Curbs

SEOUL, Aug. 30 (Korea Bizwire) — Retail sales in South Korea rose 9.7 percent on-year in July amid eased COVID-19 curbs and the growth in people’s outdoor activities, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.17 trillion won (US$10.48 billion) last month, compared with 12.9 [...]

FDI in Free Economic Zones Soars 164 pct in H1: Data

FDI in Free Economic Zones Soars 164 pct in H1: Data

SEOUL, July 21 (Korea Bizwire) — Foreign direct investment (FDI) pledged to South Korea’s free economic zones (FEZs) more than doubled in the first half of this year to hit a three-year high amid post-pandemic economic recovery, data showed Thursday. The country’s nine FEZs received US$560 million worth of FDI commitment during the January-June period, [...]

[Stats] Per Capita Alcohol Consumption by Type of Liquor

[Stats] Per Capita Alcohol Consumption by Type of Liquor

Korea’s per-capita alcoholic beverage consumption was 100 bottles of beer and 60 bottles of Korean vodka (soju) in 2012.  According to the Korea Alcohol & Liquor Industry Association on June 19, the total domestic consumption of alcohol in 2012 was 3.12 million kiloliters (1 kiloliter equals 1,000 liters). The figure included unofficial consumption from alcoholic [...]