SEOUL, Oct. 27 (Korea Bizwire) — Chinese manufacturers that have rapidly expanded their footprint in the global display market continue to post weak or negative profitability, underscoring the lingering challenges they face in moving beyond low-cost products, industry data shows. According to recent figures from Omdia, Samsung Display was the only major panel producer among the [...]
SEOUL, Oct. 27 (Korea Bizwire) — As Lee Jae-yong approaches the third anniversary of his formal appointment as chairman of Samsung Electronics, the company is experiencing its strongest recovery in years and preparing for a new phase of corporate restructuring. Mr. Lee, who was cleared of remaining legal charges earlier this year, has avoided public celebrations [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s three mid-sized automakers are losing ground so rapidly in their home market that they now lag behind Tesla, a relative newcomer that entered the country less than a decade ago. According to data from Kaizuyu Data Research Institute released Sunday, Renault Korea sold 40,431 vehicles in the domestic [...]
SEOUL, Oct. 27 (Korea Bizwire) — Relying too heavily on construction investment to stimulate South Korea’s economy could backfire, the Bank of Korea cautioned in a new report, citing Japan’s decades-long struggle with sluggish growth after its asset bubble burst. In a study released Sunday titled “Lessons from Japan and China’s Prolonged Weakness in Construction Investment,” [...]
SEOUL, Oct. 27 (Korea Bizwire) — The number of young adults who grew up in state care seeking treatment for mental health problems has climbed sharply over the past five years, underscoring persistent challenges facing those transitioning to independent life, new government data shows. These young people, known in South Korea as “self-reliance preparation youths,” are [...]
SEJONG, Oct. 26 (Korea Bizwire) — A major offshore gas development project in the East Sea has been thrown into uncertainty as the South Korean government moves to reassess plans that the state-run Korea National Oil Corporation (KNOC) had been pursuing with British oil giant BP. Industry officials said Sunday that the Ministry of Trade, Industry [...]
SEOUL, Oct. 26 (Korea Bizwire) — A popular bakery chain’s plan to close for a day to hold an employee sports festival has ignited an unexpected debate over changing attitudes toward workplace bonding in South Korea. Sungsimdang, a renowned bakery in the central city of Daejeon known for drawing tourists from across the country, announced that [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Korea’s Supreme Court has upheld the acquittal of four former National Intelligence Service investigators accused of illegally recording private conversations during a domestic surveillance operation nearly a decade ago. The court affirmed a lower ruling last month that cleared the men of violating the country’s telecommunications privacy law, according [...]
SEOUL, Oct. 26 (Korea Bizwire) — Trading activity on South Korea’s main stock market has climbed to its highest level in more than four years, propelled by a powerful rebound in semiconductor shares and renewed retail and foreign investor interest. Average daily turnover on the Korea Composite Stock Price Index stood at 16.6 trillion won ($11.5 [...]
SEOUL, Oct. 26 (Korea Bizwire) – A clear majority of South Koreans continue to view unification with North Korea as a national goal, even as doubts persist about the prospects for renewed diplomacy with Pyongyang, according to a government-commissioned survey released Sunday. Nearly 69 percent of respondents said unification remains either “very necessary” or “quite necessary,” [...]