SEOUL, Dec. 17 (Korea Bizwire) — South Korea’s domestic demand for steel is forecast to hit the lowest level in 11 years in 2020 due to the fallout from the coronavirus outbreak, a trade body said Thursday. The Korea Iron & Steel Association said domestic steel demand is likely to reach the 48 million-ton range [...]
SEOUL, Dec. 16 (Korea Bizwire) — Seven out of 10 South Koreans plan to travel abroad after coronavirus vaccines are developed, a survey showed Wednesday. According to Incheon International Airport Corp.’s recent survey, 70.2 percent of South Koreans and 82 percent of foreign nationals said they have overseas travel plans after the development of COVID-19 [...]
SEOUL, Dec. 15 (Korea Bizwire) — South Korean companies’ earnings declined by the most in 11 years in 2019, as the manufacturing sector remained sluggish amid the global economic slowdown, data showed Tuesday. Their combined before-tax net profit reached 102 trillion won (US$93.3 billion) in 2019, down 37.1 percent from the previous year, according to [...]
SEOUL, Dec. 15 (Korea Bizwire) — The number of overseas tourists visiting South Korea is expected to slump to the lowest level in 32 years amid the new coronavirus pandemic that has practically paralyzed the global tourism sector, data showed Tuesday. The number of foreigners who visited the country in the January-October period reached 2.39 [...]
SEOUL, Dec. 14 (Korea Bizwire) — South Korea’s Hyundai Motor Co. topped the global hydrogen vehicle sales in the first nine months of the year on rising demand for the Nexo model, data showed Monday. In the first nine months, Hyundai Motor sold a total of 4,917 hydrogen fuel cell electric vehicles, accounting for 74 [...]
SEOUL, Dec. 14 (Korea Bizwire) — South Korea’s auto exports dropped 10.2 percent on-year in November, falling at a faster pace compared with the previous month, amid the global resurgence of new coronavirus cases. Local carmakers shipped a combined 190,657 units of automobiles overseas last month, according to the data compiled by the Ministry of [...]
SEOUL, Dec. 11 (Korea Bizwire) — Almost half of South Koreans either lost their jobs or saw their income fall due to the new coronavirus outbreak, a report showed Friday, in a sign that the job market remains sluggish amid the pandemic. The report by Statistics Korea showed that 49.7 percent of respondents said the [...]
SEOUL, Dec. 10 (Korea Bizwire) — More than 4 out of every 10 newlywed couples in South Korea had no children last year, data showed Thursday, amid the country’s chronic low birthrate and the trend of late marriages. Of 998,000 first-time and newly married couples — who had been legally married in the five years [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korean exports of instant noodles jumped more than 30 percent in the first 10 months of the year amid the coronavirus pandemic, a report said Thursday. Overseas shipments of instant noodles, or “ramyeon” in Korean, came to US$573 million in the January-October period, up 32.4 percent from a [...]
SEOUL, Dec. 9 (Korea Bizwire) — South Korea invested almost 90 trillion won (US$83 billion) in research and development (R&D) last year, making it the fifth-largest spender among members of the Organization for Economic Cooperation and Development (OECD), the ICT ministry said Wednesday. The South Korean government and the private sector’s total R&D spending in [...]