SEOUL, Aug. 24 (Korea Bizwire) — South Korea’s household income fell 0.8 percent on-year in the second quarter of 2023 due to the drop in COVID-19-related subsidies and other state support, and the narrowed income gap between the haves and have-nots, data showed Thursday. The country’s households earned an average of 4.79 million won (US$3,613) [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s household credit soared in the second quarter of the year amid high interest rates as home purchases gathered steam, central bank data showed Tuesday. Outstanding household credit reached 1,862.8 trillion won (US$1.38 trillion) at the end of June, up 9.5 trillion won from three months earlier, according [...]
SEOUL, Aug. 22 (Korea Bizwire) — New orders won by South Korean shipbuilders jumped 11.9 percent in the first half of 2023 on the back of rising demand for high-priced vessels, the industry ministry said Tuesday. The country’s shipbuilders secured orders worth US$9.29 billion in the January-June period, compared with $8.24 billion a year earlier, [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s car exports jumped 15 percent on-year in July on the back of solid global demand for eco-friendly cars, the industry ministry said Thursday. The value of outbound shipments of automobiles came to US$5.9 billion last month, compared with $5.14 billion a year earlier, according to data from [...]
SEOUL, Aug. 16 (Korea Bizwire) — Only 3 percent of juveniles aged 14-18 are criminally punished after committing serious crimes, such as murder and rape, with the rest referred to youth correction institutions and community service programs, court data showed Wednesday. Rep. Kang Min-kuk of the ruling People Power Party released the Supreme Court data, [...]
SEOUL, Aug. 15 (Korea Bizwire) — The number of air passengers recovered to nearly 84 percent of the pre-pandemic level in July, government data showed Tuesday. A total of 8.98 million people boarded international and domestic flights last month, up 79 percent from a year earlier, according to data compiled by the Ministry of Land, [...]
SEOUL, Aug. 14 (Korea Bizwire) – Three random assaults on strangers are carried out every day on average nationwide, a police report showed Monday, after recent back-to-back stabbing sprees against strangers appalled the country. During the first half of the year, a total of 925 cases of murder, bodily harm or assault happened either due [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea recaptured the top spot in new global shipbuilding orders for the first time in five months in July, industry data showed Monday. Local shipyards clinched orders totaling 1.46 million compensated gross tons (CGTs) to build 29 ships, accounting for 44 percent of the global total of 3.33 [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s on-year job growth slowed for the fourth consecutive month in July, with the fewest number of jobs being added in 29 months, data showed Wednesday, amid sluggish employment in the manufacturing and construction sectors. The number of employed people came to 28.68 million in July, up around [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea’s export of cathodes, a key secondary battery material, to the United States surged almost threefold in the first seven months from a year earlier, on growing demand for electric vehicle (EV) cells and the new U.S. law on promoting green technologies, data showed Monday. Outbound shipments of [...]