SEOUL, Aug. 23 (Korea Bizwire) — Nearly half of South Korea’s smaller exporters with offshore production facilities are considering expanding overseas output, with only a small portion weighing reshoring, a poll said Wednesday. The survey of 1,015 small and mid-size export companies showed 49.1 percent of the respondents planning to scale up overseas production or [...]
SEJONG, Aug. 22 (Korea Bizwire) — One-person families will likely become the most common household type in all South Korean cities and provinces in the next 30 years amid the country’s low birthrate and rapidly aging population, government data showed Tuesday. Households consisting of a single member are forecast to account for 36.3 percent of [...]
SEOUL, Aug. 22 (Korea Bizwire) — The number of Chinese tourists in South Korea declined nearly 70 percent on-year last month, marking a drop for five straight months following China’s ban on sales of Korea-bound trips amid a diplomatic row over the deployment of a U.S. anti-missile system here, government data showed Tuesday. The tally [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s consumer confidence has hit a 22-year high for the second half of the year on expectations for the country’s newly inaugurated government, a survey showed Tuesday. South Korea’s overall consumer confidence for the July-December period stands at an average 78 on a full scale of 100, up [...]
SEOUL, Aug. 22 (Korea Bizwire) — Kakao Taxi is the most popular cab-hailing app in South Korea, dominating 98 percent of the market, while the food delivery app sector is fiercely contested by two rivals, according to a survey on Tuesday. Market analysis company Open Survey polled 1,500 smartphone users between 20 through 40 to [...]
SEOUL, Aug. 21 (Korea Bizwire) — An average South Korean works 20 days a year until “tax freedom day,” with high income earners working up to four more months to cross the threshold, data showed Monday. The Korea Economic Research Institute (KERI) analyzed tax data from 2007 to 2015 based on income and effective tax [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s three major shipyards — Daewoo Shipbuilding & Marine Engineering Co., Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. — maintained their top global ranking in terms of order backlog, industry data showed Friday. According to the data compiled by industry tracker Clarkson Research, Daewoo Shipbuilding’s Geoje [...]
SEOUL, Aug. 18 (Korea Bizwire) — Foreign ownership of stocks traded on South Korea’s secondary stock market has hit a new high, data showed Friday, as offshore investors turn to undervalued tech firms there after exiting the main bourse. As of Thursday, offshore investors held 25.98 trillion won (US$22.8 billion) worth of shares traded on [...]
SEJONG, Aug. 17 (Korea Bizwire) — The ratio of mobile shopping to South Korea’s retail sales reached an all-time high in the second quarter of the year, government data showed Thursday, as more consumers are turning to smartphones and other mobile devices to buy goods. Purchases made through smartphones and tablets surged 41.5 percent on-year [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korea has the second-longest average work hours per person, but its wage levels fall under the median among member states of the Organization for Economic Cooperation and Development (OECD), data showed Wednesday. The OECD Employment Outlook 2017, an annual report, said an average South Korean worked 2,069 hours [...]