SEOUL, March 23 (Korea Bizwire) — The number of South Korean companies with liabilities exceeding their assets has surged to its highest level in six years, signaling deepening concerns over corporate health amid delayed economic recovery and persistently high interest rates. According to a report released on Sunday by the Korea Economic Research Institute (KERI), 4,466 [...]
SEOUL, March 23 (Korea Bizwire) — Nearly half of South Koreans over the age of 50 who transitioned from wage employment to self-employment are earning less than the country’s minimum wage, highlighting the precarious financial situation of older entrepreneurs. According to a report released on Sunday by the Korea Employment Information Service, analysis of Korea Welfare [...]
SEOUL, March 9 (Korea Bizwire) — South Korea’s manufacturing production fell more than 4 percent from a year earlier in January, marking the sharpest drop in 18 months, data showed Sunday. The Manufacturing Production Index stood at 103.7 points in January, down 4.2 percent from a year ago, according to the data from Statistics Korea. [...]
SEOUL, March 2 (Korea Bizwire) — Nearly one in three newly minted Ph.D. holders in South Korea last year remained unemployed, a record-high figure that underscores a tightening job market even for the country’s most highly educated individuals. According to data from Statistics Korea, only 70.4% of Ph.D. recipients who graduated in 2024 had secured employment [...]
SEOUL, Feb. 25 (Korea Bizwire) — Small business owners in South Korea saw their income drop more than 10 percent from a year earlier in 2024 amid sluggish consumer sentiment, a poll showed Tuesday. According to the survey conducted by Mono Research from January 20 to February 7 on 500 small business owners, the level [...]
SEOUL, Feb. 16 (Korea Bizwire) — The number of self-employed individuals in South Korea who failed to repay their debts increased by 35% in 2024, as high interest rates and prolonged domestic economic stagnation deepened financial distress, new data shows. The burden was particularly severe for those aged 60 and older, with defaults in this group [...]
SEOUL, Jan. 18 (Korea Bizwire) — As the use of industrial robots grows across South Korean workplaces, so too does the number of related workplace accidents, sparking calls for stronger safety measures. According to the Korea Occupational Safety and Health Agency (KOSHA), industrial robot-related accidents resulted in 10 fatalities between 2020 and August 2024. All victims [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea’s newspaper industry has seen a decline in average revenue per outlet and per employee, highlighting challenges in a rapidly shifting media environment, according to the 2024 Newspaper Industry Survey released by the Korea Press Foundation on December 30. As of the end of 2023, the average revenue per [...]
SEOUL, Dec. 26 (Korea Bizwire) —A recent survey revealed that small business owners using self-service kiosks are saving labor costs equivalent to employing approximately one staff member. However, the cost of adoption and operational hurdles remain significant concerns. According to the Korea Federation of SMEs, 93.8% of 402 businesses, including restaurants, cafes, and PC rooms, [...]
SEOUL, Dec. 24 (Korea Bizwire) — A recent survey revealed that over half of Korean startups anticipate adverse effects on their businesses from the policies of Donald Trump’s second presidential term. The findings highlight concerns over protectionism, supply chain nationalism, and currency fluctuations. According to a poll conducted by the Korea Venture Business Association (KOVA) of [...]