SEOUL, Dec. 21 (Korea Bizwire) — Loan guarantees among affiliates of South Korea’s top 30 conglomerates surged nearly 21 percent in the first nine months of the year due to a credit crunch stemming from high interest rates, a corporate tracker said Wednesday. The debt payment guarantees among 207 out of the groups’ affiliates totaled [...]
SEOUL, Dec. 21 (Korea Bizwire) — The prices of popular cakes selling at South Korea’s major bakery and coffee chains rose sharply over the past year amid high inflation. The price of Paris Baguette’s Strawberry Fraisier Cake rose to 32,000 won (US$24.90) from 27,000 won last year. A Twosome Place’s Strawberry Fresh Cream Cake saw [...]
SEOUL, Dec. 20 (Korea Bizwire) — The number of immigrants, including naturalized citizens, in South Korea fell around 2 percent on-year in 2022 amid the COVID-19 pandemic, the government data showed Tuesday. The number of immigrants here reached 1.35 million as of May 2022, down from 1.38 million tallied a year earlier, according to the [...]
SEOUL, Dec. 20 (Korea Bizwire) — Nearly 60 percent of South Koreans aged between 40 and 64 held debt in 2021 as more people took out loans to purchase houses amid soaring property costs, data showed Tuesday. The proportion of middle-aged South Koreans who borrowed money from banks or other financial institutes came to 57.3 [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korean large companies operated below 80 percent of their capacity in the third quarter of the year due to the global economic downturn, a corporate tracker said Tuesday. The average capacity utilization rate of 200 out of the country’s top 500 firms by sales came to 78.4 percent [...]
SEOUL, Dec. 20 (Korea Bizwire) — Black cranes, an internationally protected species, are flying between South Korea and Japan due to an infectious disease. The Ministry of Environment said that 3,600 black cranes were observed in a three-day survey of some 200 habitats for migratory birds across the country from Nov. 11-13. Of them, 3,400 [...]
SEOUL, Dec. 20 (Korea Bizwire) — Hyundai Motor Co. announced on Monday the launch of the Universe Mobile Office bus, South Korea’s first mass-produced mobile office. The model is derived from Hyundai’s premium Universe bus, recreating it as an office space. Passengers can work and rest while they’re on the road. The private workspace consists of [...]
SEOUL, Dec. 20 (Korea Bizwire) — An increasing number of hamburger chains are jumping into the breakfast market as the floating population in morning hours increased due to the loosening of pandemic restrictions. Burger King’s breakfast-only menu item King Morning, which recently returned after a two-year hiatus due to the COVID-19 pandemic, passed the 14,000 [...]
SEJONG, Dec. 19 (Korea Bizwire) — Corporate retirement pension funds under management expanded 15.5 percent in 2021 from a year earlier, government data showed Monday. Cumulative corporate retirement pension funds stood at 295 trillion won (US$226 billion) as of end-December last year, up 40 trillion won from a year ago, according to the data compiled [...]
SEOUL, Dec. 19 (Korea Bizwire) — The sea level of South Korea rose nearly 10 centimeters over the past 33 years as a result of climate change, government data showed Monday. The country’s average coastal surface height grew 9.9 cm between 1989 and 2021, with the yearly average coming to 3.01 milometers, according to the [...]