SEOUL, April 18 (Korea Bizwire) – Car insurers in South Korea turned to a profit in 2021 for the first time in four years thanks to a pandemic-caused fall in loss rates and a rise in insurance premiums and subscribers, data showed Monday. According to the data by the Financial Supervisory Service (FSS), 12 car [...]
SEOUL, April 15 (Korea Bizwire) — South Korea’s car exports fell 7.7 percent in March due mainly to the continued shortage of automotive chips and supply disruptions of car parts in China amid the COVID-19 pandemic, data showed Friday. Outbound shipments of automobiles stood at 179,630 units last month, compared with 194,562 units a year [...]
SEOUL, April 14 (Korea Bizwire) — South Korea’s total population has started to decline amid low childbirths, but the number of foreigners here is forecast to continue to increase to make up of 4.3 percent of the population in 2040, a report showed Thursday. After peaking at 51.84 million in 2020, the country’s total population [...]
SEOUL, April 13 (Korea Bizwire) — South Korea reported job additions for the 13th consecutive month in March, but job growth slowed from the previous month as employment in in-person services was hit by the upsurge in COVID-19 cases, data showed Wednesday. The number of employed people came to 27.75 million last month, up 831,000 [...]
SEOUL, April 13 (Korea Bizwire) — The number of registered vehicles in South Korea had surpassed 25 million as of end-March, which means one out of every two South Koreans owns a vehicle, data showed Wednesday. Car registrations had come to 25.07 million units in the country of 52 million people as of end-March, up [...]
WASHINGTON, April 11 (Korea Bizwire) — Incheon International Airport, the main gateway to South Korea, became the world’s second-busiest cargo airport in 2021, up one notch from the previous year, a trade body said Monday. Incheon International Airport handled 3.23 million tons of international cargo, up 18.6 percent from a year earlier, according to the Airports [...]
SEOUL, April 11 (Korea Bizwire) — South Korea’s personal pension savings grew 5 percent in 2021 as younger people have keen interest in making preparations for post-retirement life, data showed Monday. The country’s personal pension savings reserves came to 160.1 trillion won (US$130.2 billion) last year, up from the previous year’s 152.5 trillion won, according [...]
SEOUL, April 10 (Korea Bizwire) — Over 1 in 5 vehicles sold by Hyundai Motor Co. and its smaller affiliate Kia Corp. so far this year have been eco-friendly cars, backed by their growing popularity, industry data showed Sunday. The two South Korean automakers sold a combined 64,417 hybrid and electric vehicles in the January-March [...]
SEOUL, April 7 (Korea Bizwire) — Excess funds held by South Korean households and nonprofit organizations fell last year from a year earlier as private spending increased amid the economic recovery, central bank data showed Thursday. Net financial funds — the value of financial assets minus financial liabilities — held by local households and nonprofit [...]
SEOUL, April 7 (Korea Bizwire) — Foreign direct investment (FDI) pledges to South Korea jumped 14.9 percent in the first quarter from a year earlier to reach the highest first-quarter figure ever, data showed Thursday. The country received US$5.45 billion worth of FDI commitments in the January-March period, compared with $4.74 billion logged a year [...]