SEOUL, July 16 (Korea Bizwire) — Foreigners who traveled to South Korea last year to consume K-pop goods and content were estimated to have spent US$1,007 on average, according to a report Thursday. In its latest tourism industry analysis report, the state-run Korea Tourism Organization (KTO) estimated that some 1.11 million foreigners came to South [...]
SEOUL, July 15 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. saw their standings sharply rise in global electric vehicle sales in the January-May period, a market research firm said Wednesday. Hyundai Motor ranked sixth in EV sales in the first five months from ninth in the year-ago period, while Kia’s [...]
SEJONG, July 15 (Korea Bizwire) — South Korea lost about 352,000 jobs in June, marking the fourth consecutive monthly decline in the number of employed people as the coronavirus pandemic hammers job markets, data showed Wednesday. The country’s jobless rate rose by 0.3 percentage point on-year to 4.3 percent in June, and the number of [...]
SEOUL, July 15 (Korea Bizwire) — Estimated financial losses caused by the new coronavirus in South Korea’s arts and culture industry reached nearly 150 billion won (US$124.9 million) during the first half of 2020, a report showed Wednesday. In a report assessing the financial damage in the culture industry during the January-June period, the Korea [...]
SEOUL, July 14 (Korea Bizwire) — One in two young South Koreans quits their first job after less than one year in search of better-paying and more stable employment, a report showed Tuesday. The report published by the Korean Labor Economic Association also found only one in 10 young people work for more than four [...]
SEOUL, July 14 (Korea Bizwire) — Payments made with cards here began to drop shortly after the country confirmed the new coronavirus outbreak in late January, central bank data showed Tuesday, in what could be another data backing reduced spending amid the pandemic. Between February and May, the overall amount of payments made with cards [...]
SEOUL, July 14 (Korea Bizwire) — South Korea’s exports of automobiles dropped 33.4 percent in the first six months of 2020 from a year earlier, due mainly to the new coronavirus pandemic that has strained global business activities while weighing on consumers’ sentiment, data showed Tuesday. Local carmakers shipped 826,710 units of cars overseas in [...]
SEOUL, July 14 (Korea Bizwire) — South Korean investors in gold have posted sky-high returns this year amid strong safe-haven demand caused by the coronavirus pandemic, data showed Tuesday. Gold changed hands at 261,423 won (US$217) per 3.75 grams on the Korea Exchange as of Friday, up a whopping 23.3 percent from the start of [...]
SEOUL, July 13 (Korea Bizwire) — A combined market value of Naver Corp., South Korea’s top internet portal operator, and other so-called ‘untact’ stocks, such as Kakao Corp., have seen their combined market cap surpass the 100-trillion won (US$83.27 billion) mark for the first time amid the novel coronavirus outbreak. The market capitalization of the [...]
SEJONG, July 13 (Korea Bizwire) — The total value of unemployment benefits paid out in June set a new record due to the continuing negative impact of the coronavirus pandemic on the economy, data showed Monday. The Ministry of Employment and Labor said the government paid out 1.1 trillion won (US$916 million) last month in [...]