SEOUL, Aug. 31 (Korea Bizwire) — Real wages, after adjusting for inflation, experienced a decline of 1.5 percent year-on-year during the first half of the current year, as revealed by a recent survey. This marks a significant turning point since 2011 when the Ministry of Employment and Labor expanded its survey coverage to encompass “enterprises [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s consumer prices are expected to grow at a faster pace in the coming months after a monthslong downtrend due mainly to rising global oil prices, officials said Sunday. Consumer prices, a key gauge of inflation, are forecast to rise more than 3 percent from a year earlier, [...]
SEJONG, Aug. 15 (Korea Bizwire) — The government is considering extending a tax cut scheme on fuel consumption, which is set to expire this month, through December, sources said Tuesday, amid soaring energy costs and high inflation. According to the sources, the Ministry of Economy and Finance has been mulling extending the measure and plans [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s per-capita gross domestic product (GDP) fell by the most among major economies after Japan and Sweden last year, data showed Wednesday. The country’s per-capita GDP dropped 8.2 percent on-year to come to US$32,142 in 2022, according to the data analyzed by the Bank of Korea based on [...]
SEOUL, July 21 (Korea Bizwire) — South Korea’s exports to China fell 26 percent in the first half of this year on Beijing’s falling demand for chips and display items amid a global economic slowdown, data showed Friday. Outbound shipments to China came to US$60.18 billion during the first six months of the year, compared [...]
SEOUL, July 4 (Korea Bizwire) — Foreign direct investment (FDI) pledges to South Korea jumped 54.2 percent on-year in the first six months of this year to reach a record high for any first-half period, data showed Tuesday. The country received US$17.09 billion of FDI commitments in the January-June period, compared with $11.09 billion logged [...]
SEOUL, June 21 (Korea Bizwire) —Amid concerns over the release of contaminated water from Japan’s Fukushima nuclear power plant, there has already surfaced on a second-hand trading website in Korea a so-called “radioactive fear-mongering marketing posting,” which attempted to sell salt for an exorbitant price of over 1.5 million won per 10 kilograms. On Tuesday, [...]
SEOUL, May 29 (Korea Bizwire) — South Korea’s household debt-to-gross domestic product (GDP) ratio stood at the highest level among 34 major economies in the first quarter, global financial data showed Monday. The ratio stood at 102.2 percent in the January-March period, followed by Hong Kong with a ratio of 95.1 percent, Thailand with 85.7 [...]
SEOUL, May 18 (Korea Bizwire) — Affordable and convenient food options are gaining popularity during lunchtime due to the increasing cost of eating out. Gimbap and boxed lunches have become popular choices among convenience foods, thanks to their convenience and reasonable prices. Recent data from convenience store CU reveals that Gimbap holds the highest sales [...]
SEOUL, May 17 (Korea Bizwire) —Yogiyo made an announcement on Wednesday about the introduction of YogiPassX, which is the first subscription service in the industry that offers unlimited delivery services for a fixed fee. This move comes as consumers are increasingly reducing their usage of delivery apps due to the rising costs associated with deliveries. [...]