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) – 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, May 31 (Korea Bizwire) – Nearly half of the top 30 conglomerates in the country in 2000 either fell out of the rankings or have been dissolved, with only Samsung Group firmly entrenched in the No. 1 position, an analysis showed Wednesday. Corporate tracker CEO Score compared the top 30 business groups of 2000 and those in 2016 in terms of state-appraised assets. Over the [...]
SEOUL, May 30 (Korea Bizwire) – South Korean stocks ended slightly lower Tuesday as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 9.29 points, or 0.39 percent, to 2,343.68. Bae Sung-young, [...]
BRAZIL, May 30 (Korea Bizwire) – The Bank of Korea (BOK) announced yesterday plans to include the sharing and digital economy in its new gross domestic product report, which will be published in 2019. The latest plan by the BOK for an overhaul of GDP statistics will see sharing services like Uber and Airbnb or [...]
SEOUL, May 29 (Korea Bizwire) – The latest report from the Hyundai Research Institute has revealed that South Korea is relatively safe from economic crisis, but warns that a dependency on trade with high-risk nations must not be overlooked. The report evaluating the vulnerabilities of 26 developing economies around the world categorized the countries using [...]