SEOUL, Nov. 26 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they are set to export over 100,000 electric vehicles this year on growing demand for environment-friendly cars. Hyundai and Kia shipped a combined 98,505 EVs from January to October, jumping 71 percent from 57,517 units during the same [...]
SEOUL, Nov. 25 (Korea Bizwire) — Around 84 percent of local newspapers and magazines have experienced severe business difficulties due to the new coronavirus pandemic, a recent survey showed. According to the survey published Tuesday by the Korea Press Foundation, 33.4 percent of newspaper and magazine companies said the management crisis was “very severe,” while [...]
SEJONG, Nov. 25 (Korea Bizwire) — South Korea’s household spending on alcohol and cigarettes reached a new record high in the third quarter as the coronavirus outbreak forced more people to stay home, government data showed Wednesday. Local households spent an average of 42,980 won (US$38.7) on liquors and cigarettes during the July-September period, up [...]
SEOUL, Nov. 24 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea jumped 21 percent last month from a year earlier on robust sales of Scania and Mercedes-Benz trucks, an industry association said Tuesday. The number of newly registered imported commercial vehicles rose to 474 units in October from 392 a year ago, [...]
SEOUL, Nov. 23 (Korea Bizwire) — Retail sales in South Korea increased 8.4 percent in October from a year earlier on the back of the pandemic and consumption-boosting events, data showed Monday. The combined sales of 26 major offline and online retailers reached 12.01 trillion won (US$10.7 billion) last month, up from 11.08 trillion won [...]
SEOUL, Nov. 22 (Korea Bizwire) – Nearly two-thirds of South Korean manufacturing firms believe that the business environment will not change much under the forthcoming Joe Biden administration in the United States, a poll showed Sunday. According to a survey conducted by the Korea Chamber of Commerce and Industry (KCCI), 65.3 percent of local manufacturers [...]
SEOUL, Nov. 22 (Korea Bizwire) — Environmentally friendly cars, such as electric vehicles (EVs) and hydrogen-powered cars, make up more than 3 percent of the total vehicles registered in South Korea, a report from the country’s transport ministry showed Sunday. There were 766,464 green vehicles registered in South Korea as of end-October, accounting for 3.16 [...]
SEOUL, Nov. 20 (Korea Bizwire) — Card spending made during a massive nationwide annual shopping festival earlier this month rose 6.3 percent from a year earlier, the trade ministry said Friday, amid the new coronavirus outbreak. Card spending amounted to 37.4 trillion won (US$33.5 billion) in the Nov. 1-15 period, when the country held the [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korean households saw their income earned through wages decline for the second straight quarter in the third quarter as the new coronavirus outbreak dealt a blow to the job market, data showed Thursday. The average household earned 5.31 million won (US$4,774) per month in the July-September period, up [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korean university graduates who land white-collar jobs at large corporations are paid an average of about 33 million won (US$29,700) in annual starting salary as of June this year, government data showed Thursday. According to the data released by the labor ministry, local companies with more than 500 [...]