SEOUL, Aug. 16 (Korea Bizwire) — South Korea’s business community has submitted formal concerns to the U.S. Treasury Department regarding Washington’s policy to restrict American investments in China’s advanced technology sector, sources said Friday. According to the sources, the Korea Chamber of Commerce and Industry (KCCI) sent a letter to the department on Aug. 4 [...]
SEOUL, Aug. 1 (Korea Bizwire) – Over half of South Korea’s leading corporations have failed to launch a single new business venture in the past five years, according to a recent study. Even Samsung Electronics, the country’s largest conglomerate, has not added any new business objectives to its portfolio in the last decade. A report released [...]
SEOUL, Jul. 25 (Korea Bizwire) – The number of small businesses shutting down on South Korea’s Jeju Island has increased significantly in recent years, according to local authorities. Data from the Jeju Credit Guarantee Foundation shows a steady uptick in business closures among its clients: 1,706 in 2023, 965 in 2022, 723 in 2021, and 618 [...]
SEOUL, Jul. 8 (Korea Bizwire) — Nine out of 10 large companies in South Korea plan to maintain or increase their investments in the second half of the year, despite challenges such as prolonged high interest rates, a weak local currency and international uncertainties, a survey showed Monday. In the survey conducted by Mono Research, [...]
SEOUL, Jun. 27 (Korea Bizwire) — South Korea’s business sentiment improved for a fourth consecutive month in July amid a steady recovery in exports, which offsets a slowdown in private spending, a central bank poll showed Thursday. Local companies’ business sentiment index (BSI) stood at 93.1 for the coming month, up from 91.8 the previous [...]
SEOUL, Jun. 4 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport said Tuesday it will host a forum this week to explore opportunities for South Korean companies to invest and do business in Africa, as part of efforts by Seoul to advance economic ties with the region. The 2024 Korea-Africa Infrastructure Forum will [...]
SEOUL, May 20 (Korea Bizwire) — The Seoul city government announced Monday it will invest 250.6 billion won (US$184.8 million) over the next five years to attract foreign talent and businesses, aiming to boost the city’s global competitiveness. The plan, announced by Seoul Mayor Oh Se-hoon, came amid an increasing foreign population in Seoul, with [...]
SEOUL, May 13 (Korea Bizwire) — Business leaders of South Korea, Japan and China plan to convene in Seoul this month to discuss regional economic cooperation and strengthen exchanges, according to industry sources Monday. According to the sources, the Korea Chamber of Commerce and Industries, the Japan Business Federation and the China Council for the [...]
UIJONGBU, May 1 (Korea Bizwire) – Gyeonggi Province, South Korea’s most populous province that surrounds the capital Seoul, has unveiled a new initiative aimed at promoting a work-life balance and addressing the country’s chronically low birth rate. The provincial government announced on April 30 that it will provide low-interest loans of up to 200 million won [...]
SEOUL, Apr. 24 (Korea Bizwire) — South Korea’s business sentiment index remained pessimistic for May due to uncertainties caused by fresh tensions in the Middle East and persistent inflationary pressure, a poll showed Wednesday. The business survey index (BSI) for the country’s top 600 companies by sales stood at 94.9 for next month, down 3.7 [...]