SEOUL, July 20 (Korea Bizwire) — Major companies in South Korea have seen their total economic contribution soar 20 percent over the past nine years thanks to their robust growth, a corporate tracker said Wednesday. The value of economic contribution created by the country’s top 100 firms by sales came to 1,238 trillion won (US$950 [...]
SEOUL, June 27 (Korea Bizwire) — IT companies that introduced so-called ‘workation’ policies are planning for their expansion due to popular demand. Line Plus Corp., a mobile service subsidiary of South Korea’s leading internet portal Naver Corp., introduced Line Hybrid Work 1.0 which allows staff members to work remotely from any location in the country. [...]
SEOUL, June 27 (Korea Bizwire) — About 4 out of 10 companies in South Korea saw their raw material prices jump 20 percent or more this year amid fast-rising oil and commodity bills, a central bank survey showed Monday. According to the survey by the Bank of Korea on 570 firms, 40.3 percent said so, [...]
SEOUL, May 21 (Korea Bizwire) — South Korean companies could find themselves attempting a precarious balance between Washington and Beijing, as Seoul announced its decision to join a new U.S.-led regional economic initiative that does not include China. President Yoon Suk-yeol said Saturday that South Korea and the United States will work together to develop [...]
SEOUL, May 17 (Korea Bizwire) — The combined first-quarter sales of major firms in South Korea surpassed the 700 trillion-won (US$545 billion) mark for the first time on strong performances by chips, electronics, petrochemicals and auto manufacturers, a corporate tracker said Tuesday. The total top line of 344 out of South Korea’s top 500 companies [...]
SEOUL, May 16 (Korea Bizwire) — With a growing number of Koreans choosing to focus on their work-life balance, particularly among office workers from the MZ generation (those born between the 1980s and 2000s), companies are setting out to provide more welfare benefits to employees. Battery maker LG Energy Solution Ltd. introduced a “Healing Trip” [...]
SEOUL, May 10 (Korea Bizwire) — Software as a Service (SaaS), which accounts for the largest share of the world’s public cloud services, is growing at a rapid pace, with the South Korea’s IT industry placing a bigger emphasis on the technology. NHN Dooray, the SaaS unit of NHN Corp., attracted an investment of 20 [...]
SEOUL, April 21 (Korea Bizwire) — Major South Korean firms’ labor costs rose nearly 13 percent in 2021 from a year earlier, but their hiring activities remained sluggish, a corporate tracker said Thursday. The combined labor cost of 120 companies, which are the top businesses in the country’s key 12 industrial sectors by revenue, amounted [...]
SEOUL, April 4 (Korea Bizwire) — South Korean office workers are gradually returning to the office after more than two years of on-again, off-again remote working, as businesses are rolling back pandemic restrictions in tandem with those of the government. Steel giant POSCO on Monday ended its remote working policy in its Seoul office, believing [...]
SEOUL, March 30 (Korea Bizwire) — The value of corporate mergers and acquisitions in South Korea surged 66 percent on-year last year amid major companies’ active investments in new industry fields, the antitrust regulator said Wednesday. Corporate deals were valued at 349 trillion won (US$288.5 billion) in 2021, compared with 138.4 trillion won a year [...]