SEOUL, June 2 (Korea Bizwire) – South Korean stocks finished slightly higher Monday, as investors took a wait-and-see posture ahead of the crucial presidential election amid signs of renewed trade tensions between the United States and China. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.3 [...]
SEOUL, June 2 (Korea Bizwire) — South Koreans are spending a smaller share of their income than they did a decade ago, signaling deeper shifts in household behavior amid demographic and economic changes, according to a new report released by the Korea Chamber of Commerce and Industry (KCCI). The report, titled “Changes in Consumption Propensity by [...]
SEOUL, May 30 (Korea Bizwire) — South Korea’s economy showed renewed signs of weakness in April, with industrial production, consumption, and investment all posting declines — the first “triple minus” since January — as the impact of new U.S. auto tariffs begins to ripple through key sectors. According to data released Friday by Statistics Korea, [...]
SEOUL, May 30 (Korea Bizwire) — The number of homes in South Korea owned by foreign nationals surpassed 100,000 for the first time in 2024, with Chinese buyers accounting for more than half, according to data released Friday by the Ministry of Land, Infrastructure and Transport. As of December 2024, foreigners owned 100,216 residential properties across [...]
SEOUL, May 28 (Korea Bizwire) — South Korea and Indonesia have officially launched a mutual recognition agreement (MRA) in the field of information and communications technology (ICT), streamlining product certification processes and reducing costs for exporters, the Ministry of Science and ICT announced on Tuesday. The agreement, which takes effect immediately, allows testing and certification of [...]
SEOUL, May 27 (Korea Bizwire) – South Korea’s state-run think tank on Tuesday sharply cut its growth forecast for the local economy this year to 1 percent, citing a slowdown in exports and domestic consumption. The revised projection by the Korea Institute for Industrial Economics and Trade (KIET) represents a 1.1 percentage-point drop from its [...]
SEOUL, May 27 (Korea Bizwire) — As South Korea grapples with a prolonged domestic slowdown, economists and policymakers are sounding the alarm over an increasingly potent structural threat: the country’s shrinking and aging population. Already facing stagnating consumer sentiment, high inflation, and global uncertainty, South Korea’s economy is now contending with the compounding impact of demographic [...]
SEOUL, May 26 (Korea Bizwire) — For the first time since statistics began in 2018, South Korea’s once-booming coffee shop sector has shrunk, alongside a broader pullback across key self-employment industries. The decline underscores mounting pressure on small business owners from domestic economic stagnation, market saturation, and rising operating costs. According to data released Sunday by [...]
SEOUL, May 23 (Korea Bizwire) — South Korean stocks finished almost flat Friday amid a lack of investment catalysts following mixed overnight results on Wall Street. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.58 points, or 0.06 percent, to close at 2,592.09. Trade volume was [...]
SEOUL, May 23 (Korea Bizwire) — Major coffee chains and instant coffee producers in South Korea are raising prices amid an increase in raw material costs, according to industry data Friday. Angel-in-us Coffee, operated by Lotte GRS Co., said it will increase beverage prices by 200 to 300 won (US$0.15-0.22) Thursday. CJ Foodville Corp.’s bakery [...]