SEOUL, Sept. 18 (Korea Bizwire) — South Korea could soon face a tipping point where traditional monetary policy loses its potency, Bank of Korea Governor Rhee Chang-yong warned Friday, citing the country’s rapid demographic decline as a structural risk that could push interest rates toward their effective floor. Speaking in Washington at the International Monetary [...]
SEOUL, Sept. 18 (Korea Bizwire) — Thirty years ago, Hyundai Motor Co. was still shedding its image as a latecomer, eager to catch up with established automakers in the United States, Europe and Japan. Today, South Korea’s largest carmaker is aiming to leap ahead, announcing its most ambitious growth strategy yet: a 77.3 trillion won [...]
SEOUL, Sept. 17 (Korea Bizwire) — On the eve of its maiden voyage, Seoul unveiled its long-awaited “Hangang Bus” on Wednesday, positioning the sleek new ferry service as both a commuter option and a lifestyle attraction along the capital’s iconic waterway. At an inauguration ceremony held at Yeouido Pier, Mayor Oh Se-hoon joined lawmakers and local [...]
SEOUL, Sept. 17 (Korea Bizwire) — Naver Corp. said Wednesday it is launching the second round of its “Be Local” campaign, a joint effort with the Korea Tourism Organization to introduce foreign visitors to Korea’s trending restaurants, cafes and cultural spots. The initiative, first tested earlier this year through the Naver Maps app for users [...]
BUSAN, Sept. 17 (Korea Bizwire) — Thirty years ago, Busan was a place better known for its shipyards and sun-splashed beaches than for cinema. The notion that South Korea’s second-largest city would one day play host to one of Asia’s premier film festivals seemed far-fetched, if not fanciful. But in 1996, a small band of cinephiles [...]
SEOUL, Sept. 17 (Korea Bizwire) — South Korea’s top electronics makers, Samsung Electronics and LG Electronics, are restructuring their television businesses amid mounting losses and intensifying competition from Chinese rivals. Samsung’s video display unit has expanded its voluntary retirement program to include more senior staff and halted the intake of new employees through internal transfers, [...]
SEOUL, Sept. 17 (Korea Bizwire) — More than nine in 10 South Korean small and medium-sized enterprises (SMEs) employing foreign workers say they do so because it is nearly impossible to hire locals, according to a survey released Tuesday. The Korea Federation of SMEs said it polled 503 firms with more than 50 employees in [...]
SEOUL, Sept. 17 (Korea Bizwire) — South Koreans are experiencing relatively high levels of anxiety about aging, particularly over declining health and financial insecurity, with younger adults reporting greater unease than their elders, according to new research released Tuesday. The Hanyang University Institute on Aging surveyed 4,254 adults nationwide last year and developed what it [...]
SEOUL, Sept. 17 (Korea Bizwire) — More than one in 10 young South Koreans who rarely leave their homes — so-called “hikikomori” or socially withdrawn youth — reported having contemplated suicide, four times the rate of their peers, according to new government-backed research. The findings, published Tuesday in the Health and Welfare Forum by the [...]
SEOUL, Sept. 17 (Korea Bizwire) — South Korea is rolling out an ambitious blueprint to transform its manufacturing base with artificial intelligence, advanced semiconductors, and clean energy infrastructure, part of President Lee Jae-myung’s drive to position the country among the world’s top four manufacturing powers by the end of the decade. The Ministry of Trade, [...]