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 [...]
SEOUL, Mar. 7 (Korea Bizwire) – A recent analysis conducted using the generative AI ChatGPT on the annual management messages of top companies has revealed that the advancements in digital transformation (DX) and artificial intelligence (AI) are seen as both a crisis and an opportunity for South Korean businesses. On March 6, the Korea Chamber of [...]
SEJONG, Jan. 23 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it plans to spend 100 billion won (US$74.6 million) this year to support local businesses seeking to bring their production back home from overseas. The amount marks a 75 percent rise from the 57 billion won allocated in 2023, according to the Ministry [...]
SEOUL, Jan. 10 (Korea Bizwire) — Nearly half of the chief executives of the leading 500 firms in South Korea are in their 60s, a survey showed Wednesday. According to the survey conducted by CEO Lab, a corporate research organization, on the age of CEOs of the top 500 companies, the average age of a [...]
SEOUL, Jan. 3 (Korea Bizwire) – Along Seoul’s ‘Yongridan-gil’, a stretch of road between Sinyongsan and Samgakji stations, an office worker referred to only as Kim (28) takes photos with friends against a backdrop of stores decorated in Japanese style. “You can’t tell if this is Seoul, Tokyo, or Osaka. People might think I’m in Japan [...]
SEOUL, Dec. 21 (Korea Bizwire) – South Korean companies dedicated nearly 3.5 trillion won to social contributions last year, with a significant focus on supporting vulnerable populations. The Federation of Korean Industries (FKI) recently unveiled its “Social Value Report of Major Companies,” surveying 299 of the top 500 revenue-generating companies in 2022. The total expenditure on [...]
SEOUL, June 5 (Korea Bizwire) — South Korea’s offline retail industry is actively pursuing a breakthrough as a lifestyle platform amidst the continuous expansion of online commerce. Leading health and beauty (H&B) store operator CJ Olive Young recently introduced separate liquor sales counters at major outlets, including Gangnam and Euljiro in Seoul. Initially, CJ Olive [...]