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Over 900 Korean Venture Firms Hit ₩100 Billion Milestone in 2023

Over 900 Korean Venture Firms Hit ₩100 Billion Milestone in 2023

SEOUL, Nov. 26 (Korea Bizwire) – The number of Korean venture companies surpassing ₩100 billion in annual revenue exceeded 900 for the first time last year, signaling robust growth in the country’s innovation-driven economy, the Ministry of SMEs and Startups announced on Tuesday. The total reached 908 firms in 2023, a 4.5% increase from 869 in [...]

South Korea’s E-Commerce Market Set to Surpass $118 Billion in 2024 Amid Rapid Growth

South Korea’s E-Commerce Market Set to Surpass $118 Billion in 2024 Amid Rapid Growth

SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s e-commerce market is growing at a fast pace and is expected to grow 10.2 percent on-year to surpass 164 trillion won (US$118 billion) this year, a global market research firm said Wednesday. The Korean e-commerce market is set to reach 164.3 trillion won in 2024, up from [...]

Samsung Leads South Korea’s Top 100 Companies in Female Executives as Gender Diversity Rises Across Corporate Sector

Samsung Leads South Korea’s Top 100 Companies in Female Executives as Gender Diversity Rises Across Corporate Sector

SEOUL, Nov. 11 (Korea Bizwire) – Samsung Electronics Co., South Korea’s tech giant, topped other local companies in the number of female executives this year, a local head hunting firm said Monday. Unico Search Inc. conducted a survey of the country’s top 100 companies in terms of sales to see how many female executives they [...]

Record 43.1% of South Korean Workers in Their 20s Hold Temporary Positions, Study Finds

Record 43.1% of South Korean Workers in Their 20s Hold Temporary Positions, Study Finds

SEOUL, Oct. 28 (Korea Bizwire) – Part-time employment among young workers has doubled over the past decade, leading to an unprecedented rise in non-regular employment among South Korea’s youngest workforce. According to data released by Statistics Korea on October 27, as of August, there were approximately 1.46 million workers in their 20s heolding non-regular positions, representing [...]

South Korean Worker Survey Shows Top 1% Earn 330 Million Won, Revealing Wide Regional Income Gap

South Korean Worker Survey Shows Top 1% Earn 330 Million Won, Revealing Wide Regional Income Gap

SEOUL, Oct. 25 (Korea Bizwire) – Data released by South Korea’s National Tax Service has revealed significant income disparities among the country’s workforce, with the average annual salary standing at 41.23 million won while top earners command substantially higher wages, particularly in the capital region. According to figures obtained by Representative Ahn Do-geol of the Democratic [...]

Number of EV Imports Down 40.1 Pct in Aug.-Sept.

Number of EV Imports Down 40.1 Pct in Aug.-Sept.

SEOUL, Oct. 9 (Korea Bizwire) — The number of imported electric vehicles (EVs) newly registered in South Korea fell 40.1 percent on-year over the August-September period, data showed Wednesday, amid the public’s lingering concerns over their safety. According to data compiled by the Korea Automobile Importers & Distributors Association, 6,868 imported EVs were newly registered [...]

S. Korea’s Top 4 Conglomerates Take Up 40 Pct of GDP in 2023

S. Korea’s Top 4 Conglomerates Take Up 40 Pct of GDP in 2023

SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s top four conglomerates accounted for more than 40 percent of the country’s annual gross domestic product (GDP) in 2023, data showed Wednesday. The combined sales of the four family-controlled groups — Samsung, SK, Hyundai Motor and LG — reached 980.5 trillion won (US$729 billion) in 2023, accounting [...]

Over 60% of Automotive Exports Sent to North America from January to August

Over 60% of Automotive Exports Sent to North America from January to August

SEOUL, Oct. 6 (Korea Bizwire) – Over 60 percent of South Korea’s automotive exports throughout most of 2024 have been shipped to North America, industry data showed Sunday, raising calls for companies to consider more balanced global export strategies. According to industry data, exports of the five automotive firms with manufacturing bases in South Korea [...]

South Korean Startup Leaders Pessimistic About Business Climate, Survey Finds

South Korean Startup Leaders Pessimistic About Business Climate, Survey Finds

SEOUL, Oct. 5 (Korea Bizwire) – A recent survey has revealed that 42.7% of startup founders in South Korea view the current startup ecosystem negatively, highlighting growing concerns over the challenging business climate in one of Asia’s tech hubs. The survey, conducted by Google as part of its ChangGoo program, polled 100 startup leaders between September [...]

BMW Retains Lead in Imported Car Market as Mercedes-Benz Struggles Amid EV Fire Incident

BMW Retains Lead in Imported Car Market as Mercedes-Benz Struggles Amid EV Fire Incident

SEOUL, Sept. 6 (Korea Bizwire) – BMW Korea is maintaining a lead in South Korea’s imported vehicle market so far this year, industry data showed Friday, as main rival Mercedes-Benz Korea is faced with a brand reputation setback after a massive fire that broke out from one of its electric vehicles. According to the Korea [...]