SEOUL, Feb. 23 (Korea Bizwire) – Trickle-down effects from major South Korean businesses, creating a flow of benefits to smaller companies, are becoming less perceptible. In a report announced Wednesday by the Korea Small Business Institute, researchers said that “there’s now very little trickle-down effects between big companies and SMEs,” based on a statistical analysis [...]
SEJONG, Feb. 17 (Korea Bizwire) – The underground economy accounted for 8 percent of South Korea’s gross domestic product (GDP) in 2015 amid the government’s efforts to reduce the black market, a state-run think tank said Friday. The Korea Institute of Public Finance (KIPF) said in its latest report that the shadow economy was estimated [...]
SEOUL, Feb. 17 (Korea Bizwire) – South Korea on Friday announced a plan to nurture 100 ‘star’ venture firms in the science and technology sectors by 2020 to secure new economic growth engines. The Ministry of Science, ICT and Future Planning reported a set of measures to Acting President and Prime Minister Hwang Kyo-ahn to [...]
SEJONG, Feb. 16 (Korea Bizwire) – The South Korean government has sent a letter of protest to international daily newspaper Financial Times (FT) over its recent news report that Seoul has intentionally devalued its currency, a government official said Thursday. In the article titled “Donald Trump’s anger at Asian currency manipulators missed target” moved on [...]
SEOUL, Feb. 15 (Korea Bizwire) – South Korea announced a package of measures Wednesday to utilize information and communications technology (ICT) and science technology to revitalize the country’s economy suffering from weak exports and flagging manufacturing sector. Under the measures discussed in a meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, the [...]
SEOUL, Feb. 6 (Korea Bizwire) – The Deloitte Millennial Survey 2017 revealed that South Korean youth are losing hope in their very own economy, ranking fairly low among surveyed countries. The survey was based on 8,000 millennials from 30 countries born after 1982, with permanent jobs and at least a bachelor’s degree. It is the [...]
SEOUL, Feb. 3 (Korea Bizwire) – A growing number of South Koreans are seeking help from the state financial watchdog for damages caused by loan sharks amid a prolonged economic slump, official data showed Friday. A total of 2,306 relevant cases were reported to the Financial Supervisory Service (FSS) last year, up 89 percent from [...]
SEOUL, Feb. 2 (Korea Bizwire) – Amid a prolonged economic downturn, practicality, or cost-effectiveness, has become the key element of consideration when purchasing a new product. In other words, more people are choosing budget-friendly products with the best performance. Daiso, a discount store franchise similar to American dollar stores, is among the companies benefiting from [...]
SEJONG, Feb. 2 (Korea Bizwire) – South Korea’s consumer prices rose at the fastest clip in more than four years in January on a sharp rise in food prices, government data showed Thursday. The country’s consumer price index gained 2 percent last month from a year earlier, accelerating from the previous month’s 1.3 percent rise, [...]
SEOUL, Jan. 25 (Korea Bizwire) – It is long overdue. Six months after its global launch, Niantic’s Pokémon Go has finally come to South Korea. The augmented reality game kicked off with a good start. Local videogame stocks soared Tuesday over market anticipation, and social networking services were rampant with thrills and excitement. App analytics [...]