SEOUL, Aug. 1 (Korea Bizwire) — The number of people in South Korea with financial assets worth more than 1 billion won (US$892,295) rose 14.8 percent on year to 242,000 last year, thanks to the robust stock market, a report showed Tuesday. According to the annual survey by KB Financial Group Inc.’s research institute, people [...]
SEOUL, Aug. 1 (Korea Bizwire) — Gasoline-powered vehicles regained a 50 percent market share for new cars in the January-June period amid weaker demand for diesel vehicles, industry data showed Tuesday. Gasoline cars accounted for 50.2 percent of South Korea’s total new car registrations in the first half, data by the Korea Automobile Manufacturers Association [...]
SEOUL, Jul. 31 (Korea Bizwire) — A local think tank said Monday that it has revised up South Korea’s growth forecast for this year on the back of increased exports amid the global economic recovery. The Korea Institute of Finance adjusted the country’s gross domestic product growth to 3 percent, up 0.2 percentage point from [...]
SEOUL, Jul. 30 (Korea Bizwire) — The number of newborn babies in South Korea is expected to be around 360,000 for all of 2017, data showed Sunday, marking the first time for the figure to fall below 400,000. According to the data compiled by the country’s health ministry and statistics agency, the number of newborn [...]
SEJONG, Jul. 28 (Korea Bizwire) — Exports of South Korea-made passenger cars rose 7.2 percent in the second quarter of this year thanks to solid demand from emerging countries, customs data showed Friday. The total value of passenger car exports reached US$10.3 billion over the April-June period, up from $9.64 billion tallied a year earlier, [...]
SEOUL, Jul. 26 (Korea Bizwire) — South Korea’s rapidly aging population is likely to reduce the nation’s overseas equities investment as seniors will likely move to sell assets due to falling living standards, researchers at the Bank of Korea (BOK) said Wednesday. As the global financial markets become more interconnected, older people will have a [...]
SEOUL, Jul. 26 (Korea Bizwire) — Sales of smartphones through online platforms in South Korea remain sluggish compared with other countries, data showed Wednesday, due mainly to strong dominance of mobile carriers in the mobile phone market. According to the data compiled by Strategy Analytics, the sales of smartphones through online platforms in the country [...]
SEJONG, Jul. 25 (Korea Bizwire) — Fine dust levels have decreased some 15 percent in the central region of South Korea following the temporary shutdown of eight old coal-fired power plants last month as part of the government’s efforts to reduce the country’s air pollution levels, a study showed Tuesday. Starting June 1, the thermal [...]
SEOUL, Jul. 25 (Korea Bizwire) — S. Korea’s big name exporters have stepped up their lobbying activities in the United States after the Donald Trump administration took office, data showed Tuesday, apparently to smooth out potential trade issues. U.S. Senate Lobbying Disclosure Database showed that tech giant Samsung Electronics spent US$1.47 million on lobbying activities [...]
SEOUL, Jul. 23 (Korea Bizwire) — Over 50,000 houses remained uninhabited in South Korea’s rural areas last year, agricultural ministry data released by a ruling party lawmaker showed Saturday. The number of empty rural houses was tallied at 50,801 as of August 2016, rising from 48,901 in 2014 and 48,685 in 2015, the data showed. [...]