SEJONG, Feb. 3 (Korea Bizwire) – The government said Wednesday it will nurture the property market into becoming a high value-added service sector by boosting real estate investment funds in a bid to make it a new economic growth engine. The Ministry of Land, Infrastructure and Transport said it will lower barriers and give tax [...]
SEOUL, Feb.2 (Korea Bizwire) – Unemployment in Korea is becoming worse year after year. The unemployment rate peaked last year at 9.2 percent. Influenced by the phenomenon, 222,650 young Koreans applied to take the national civil service exams, an all-time high in the number of applicants. The job market is as frozen as the recent [...]
SEOUL, Feb.1 (Korea Bizwire) – Alba Heaven, an online part-time job portal, announced that the results of a survey conducted on 1,267 members showed that 50.4 percent of the respondents were planning to work during the Lunar New Year holiday. Of note, individuals in their 40s and 50s were particularly eager to get a part [...]
SEOUL, Jan. 29 (Korea Bizwire) - Debit card use in South Korea continued to rise in 2015 on tax benefits, data showed Friday, in a sign that the direct payment system is taking root in the country. According to the data by the Credit Finance Association of Korea (CREFIA), purchases made with debit cards reached 131.5 [...]
SEOUL/SEJONG, Jan. 28 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government will make determined efforts to help companies make headway into untapped overseas markets like Iran, and revive exports as Asia’s fourth largest economy strives keep alive its economic momentum in the coming months. “We are facing challenges as uncertainties are [...]
SEOUL, Jan. 27 (Korea Bizwire) – The number of people working for South Korea’s top 30 major business groups has increased 17 percent over the past five years, well higher than the average rise of 13 percent for the corporate sector, industry data showed Wednesday, indicating that the conglomerates helped ease the country’s prolonged labor [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korea’s top 10 business groups saw the market value of their listed affiliates plunge this year mainly due to increased overseas volatility, data showed Tuesday. The combined market capitalization of their listed companies came to 721.99 trillion won as of Monday, down 4.49 percent from 755.93 trillion won [...]
SEJONG, Jan. 26 (Korea Bizwire) – South Korea’s finance minister asked government ministries and agencies on Tuesday to make all-out efforts to frontload their budget spending in the first quarter to preemptively cope with rising economic uncertainties at home and abroad. “The government is pushing forward with the frontloading of fiscal spending in the first [...]
SEJONG, Jan.18 (Korea Bizwire) – With oil prices reaching all-time lows, the daily habits of Koreans are changing. The number of people traveling abroad or buying large vehicles such as SUVs is increasing. People are also choosing to drive to work instead of taking public transportation. The number of people enjoying overseas travel is increasing. [...]
SEJONG, Jan. 18 (Korea Bizwire) – South Korea’s finance minister called Monday for preemptive measures to block any fallout from economic uncertainties including a Chinese slowdown. “Earlier than expected, external downside risks stemming from China are drawing nearer,” Finance Minister Yoo Il-ho was quoted as telling a meeting of senior ministry officials. “We have to [...]