SEOUL, Feb. 25 (Korea Bizwire) — The top 0.1 percent of wealthy individuals in South Korea earned nearly 70 times more than the median income earners in 2021, data showed Saturday. Statistics from the National Tax Service cited by Rep. Yang Kyung-sook of the opposition Democratic Party also showed the share of the total income [...]
JEJU, Feb. 24 (Korea Bizwire) — Recent threats to their survival, such as wild dog attacks and habitat invasion, have prompted the need for the protection of Jeju’s roe deer population, once a headache for many on the island. These deer, once known as the “symbols of Mount Halla,” experienced an explosive population increase over [...]
INCHEON, Feb. 24 (Korea Bizwire) — High-end drones will be deployed on large vessels operated by South Korea’s Coast Guard to monitor Chinese boats engaging in illegal fishing activities, officials said Thursday. The Coast Guard announced that it will invest 28 billion won (US$21.4 million) by 2028 to purchase 144 additional drones for 32 large [...]
SEOUL, Feb. 24 (Korea Bizwire) — South Korea’s fisheries output moved down 6 percent from a year earlier in 2022, data showed Friday, primarily due to a fall in the production of anchovies, hairtail, and squid. Total fisheries output amounted to 3.6 million tons last year, down from 3.83 million tons tallied in 2021, according [...]
SEOUL, Feb. 24 (Korea Bizwire) — South Korea added 597,000 jobs for wage workers in the third quarter of 2022, data showed Friday, led by higher demand from the welfare, construction and manufacturing sectors. The number of paying jobs came to 20.19 million in the July-September period, up from 19.59 million tallied a year earlier, [...]
SEOUL, Feb. 24 (Korea Bizwire) — The COVID-19 pandemic changed the landscape of the South Korean import liquor market, which is now dominated by whisky and wine. The nation’s imports of whiskies such as scotch, bourbon, and rye amounted to US$266.8 million last year, up 52.2 percent year on year, according to the data from [...]
SEOUL, Feb. 23 (Korea Bizwire) — Household income advanced 4.1 percent on-year in the fourth quarter on the back of the improved job market, data showed Thursday, although the actual profit lost ground amid higher inflation. The country’s households earned an average 4.83 million won (US$3,700) per month in the October-December period, compared with 4.64 [...]
SEOUL, Feb. 23 (Korea Bizwire) — More than half of European companies based in South Korea intend to increase investment this year from last year, with nearly every seven out of 10 showing satisfaction in doing business here, a poll showed Thursday. Fifty-five percent of the companies said they plan to increase investment or operational [...]
SEOUL, Feb. 23 (Korea Bizwire) — The government will introduce energy performance grades for all electronic vehicles, similar to fossil fuel cars, in order to encourage the development of highly efficient EVs. The Ministry of Trade, Industry and Energy officially announced the new policy on Wednesday. The government plans to divide energy performance into five [...]
SEOUL, Feb. 23 (Korea Bizwire) — Busan has won the top prize in South Korea’s city brand rankings, surpassing Seoul. The Korea Corporate Reputation Research Institute conducted a monthly analysis of 57,048,306 data records on city brands, which showed that Busan ranked first, followed by Seoul and Jeju City. The City Brand Index was based [...]