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Only Two Months Away, A Look at the Troubles Facing the PyeongChang Olympics

Only Two Months Away, A Look at the Troubles Facing the PyeongChang Olympics

SEOUL, Nov. 24 (Korea Bizwire) – February 2, the kick-off date of the PyeongChang 2018 Winter Olympics, is fast approaching, leaving the organizing committee with a shrinking window to come up with solutions to problems that are for the most part out of their control. The first blow was delivered in September by the NHL, [...]

Lobby Body for S. Korean Conglomerates to Change Its Name After Presidential ‘Choi-gate’

Lobby Body for S. Korean Conglomerates to Change Its Name After Presidential ‘Choi-gate’

SEOUL, March 24 (Korea Bizwire) – The Federation of Korean Industries (FKI), the largest lobby body for large companies here, said Friday that it would boost transparency and switch to the role of a think tank for the corporate sector. Huh Chang-soo, chairman of the FKI, announced a set of reform measures that centers around [...]

FKI Urges Gov’t to Ease Greenhouse Gas Emission Goal

FKI Urges Gov’t to Ease Greenhouse Gas Emission Goal

SEOUL, May 13 (Korea Bizwire) — A major business lobby in South Korea called on the government Wednesday to lower its reduction target for greenhouse gas emissions, saying that it is “impossible” to achieve. The government earlier proposed cutting greenhouse gas emission by 30 percent from business-as-usual (BAU) levels by 2020. It plans to submit its [...]

Top Biz Groups to Expand Investment but Cut Hiring This Year: Survey

Top Biz Groups to Expand Investment but Cut Hiring This Year: Survey

SEOUL, Mar. 16 (Korea Bizwire) — South Korea’s 30 leading business groups will expand investment, but decrease new employment this year compared to last year, amid worries of increasing labor costs, a survey showed Monday. According to the survey by the Federation of Korean Industries (FKI) of the top 30 conglomerates in terms of assets [...]

Local Manufacturers Suffer from Rising Won Value, FKI Reports

Local Manufacturers Suffer from Rising Won Value, FKI Reports

SEOUL, May 13 (Korea Bizwire) – According to a recent survey by the Federation of Korean Industries, the ongoing appreciation of the Korean won is undermining the profitability of Korean exporters. The FKI survey on 120 large manufacturers in Korea revealed that the break-even exchange rate for local manufacturers was 1,052.30 won per the U.S. [...]

“Biggest Reason for Women’s Career Discontinuity Is Marriage”…FKI Report

SEOUL, Korea, Mar 3 (Korea Bizwire) – A study said the biggest reason for women to quit being part of the economically active population was marriage. Up until now, the main reason for women’s career discontinuity was childrearing. A ccording to a report “How to Raise Women Employment Ratio” published by the Federation of Korean [...]