SEOUL, Jan. 16 (Korea Bizwire) — The proportion of self-employed people in South Korea touched a record low in 2022 in the wake of the prolonged coronavirus pandemic, data showed Monday. Asia’s fourth-largest economy had 5.63 million self-employed people as of end-December, accounting for 20.1 percent of the 28.09 million employed in the country, according [...]
SEJONG, Dec. 22 (Korea Bizwire) — The number of newly established companies in South Korea decreased 3.4 percent on-year in 2021 amid weak business sentiment sparked by the pandemic, data showed Thursday. Last year, the number of newly created firms came to 1.02 million, down 36,000 from a year earlier, according to the data compiled [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korean businesses have canceled their Halloween promotional events as the country mourns the death of more than 150 people in a massive stampede in central Seoul, companies said Monday. Lotte Department Store, a leading shopping mall, said it has called off its plans to hold Halloween parades and [...]
SEJONG, Sept. 29 (Korea Bizwire) — The number of companies doing business in South Korea edged up in 2021 from a year earlier amid the economic recovery, government data showed Thursday. Asia’s fourth-largest economy had 6.08 million businesses last year, up 0.7 percent, or 44,000, from 2020, according to the data from Statistics Korea. The [...]
SEOUL, June 16 (Korea Bizwire) – Local businesses saw their first-quarter sales continue to rise but at a slower pace than three months earlier amid growing economic uncertainty at home and abroad, central bank data showed Thursday. A total of 20,120 corporations subject to external audits posted a 17 percent rise in their combined sales [...]
SEOUL, April 19 (Korea Bizwire) — Most senior tech entrepreneurs established their own businesses on the basis of their experience at previous jobs, a survey showed Monday. The Korea Institute for Industrial Economics and Trade conducted a survey of 222 tech founders older than 40 years old, who established their own businesses in the areas [...]
SEJONG, Dec. 28 (Korea Bizwire) — The number of businesses in South Korea rose nearly 18 percent over the past five years as almost all industrial sectors posted gains, data showed Tuesday. Asia’s fourth-largest economy had a total of 6,013,000 businesses as of the end of 2020, up 17.8 percent from five years earlier, according [...]
SEOUL, Sept. 2 (Korea Bizwire) — More than two thirds of owner-operated businesses are considering closing down shop as the fourth wave of the pandemic and strict social distancing measures continue to drag on, a leading private think tank said Wednesday. The Korea Economic Research Institute conducted a survey of 500 owner-operated businesses, 39.4 percent [...]
SEOUL, July 26 (Korea Bizwire) — So-called ‘edutech’ businesses that graft new technologies such as artificial intelligence (AI), virtual reality (VR) and big data into the educational space are enjoying rising popularity in South Korea. Kim Mi-kyung, a popular lecturer and dean of online university MKYU, recently joined hands with AI start-up MINDs Lab Inc. [...]
SEOUL, Dec. 30 (Korea Bizwire) — The number of business owners in their 60s and over sharply increased last year as the number of people starting their own businesses after retirement has increased. According to a report released by Statistics Korea on Tuesday, the number of private businesses totaled 4.18 million last year, up 1.8 [...]