SEOUL, Feb. 10 (Korea Bizwire) — Major foreign investment banks (IBs) revised down their forecasts for South Korea’s economic growth for this year citing sluggish exports and slowing global demand, a report showed Sunday. The average growth forecast for 2019 by nine major global IBs stood at 2.5 percent as of end-January, down 0.1 percentage [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s private consumption grew at the fastest rate in seven years in 2018, data showed Sunday. According to the Bank of Korea, South Korea’s private consumption grew 2.8 percent in 2018, marking the highest figure since the 2.9 percent posted in 2011. The country’s growth in terms of [...]
SEOUL, Jan. 7 (Korea Bizwire) – South Korea’s market for performing arts grew 23 percent last year from a year earlier driven by solid performances by musicals and K-pop concerts, data showed Monday. Interpark, an online shopping mall and leading ticket distributor, said the total 2018 ticket sales for performing arts came to 544.1 billion [...]
SEOUL, Jan. 6 (Korea Bizwire) — The number of new convenience stores in South Korea moved down in 2018 from a year earlier, industry data showed Sunday, due mainly to an increase in labor costs and the market’s saturation. According to industry data, new CU branches, operated by BGF Retail Co., posted a net increase [...]
SEOUL, Aug. 20 (Korea Bizwire) — Listed companies showed slower growth in net profits in the first half of the year, while banks raked in approximately 20 trillion won in interest fees alone. As the growth rate of listed companies was smaller, banks enjoyed a boom with interest income proving to be a significant driver [...]
SEOUL, Aug. 14 (Korea Bizwire) — With worry that peer-to-peer (P2P) lending financial corporations are on their last legs continuing to grow, two P2P associations that are leading the industry have each come up with their own regulations to be announced within the month. The Korea P2P Finance Association, a group that currently has 60 [...]
SEOUL, Jul. 23 (Korea Bizwire) — Kakao Bank, South Korea’s second Internet-only bank, has posted rapid growth in its customer base and assets since its launch a year ago to overtake the country’s smallest regional lender, data showed Monday. Kakao Bank, controlled by Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, started [...]
LONDON, Jul. 11 (Korea Bizwire) — VistaJet, the first and only global business aviation company, continued to gain substantial market share around the world during the first half of 2018. Driven by the sustained demand for the Company’s flagship Program subscription model, new Members rose by 32% year-on-year, with Europe doubling the number of new contracts [...]
SEOUL, Jun. 27 (Korea Bizwire) — The number of South Korean farms raising insects has nearly tripled in the last three years, in line with rising interest in insects as an alternative source of food, animal feed and medicine, the agriculture ministry said Wednesday. A total of 2,136 farms bred insects in 2017, up from [...]
SEOUL, Apr. 9 (Korea Bizwire) — South Korea’s IT firms are tapping deeper into the car-sharing industry, market watchers said Sunday, as demand for such services is expected to grow sharply over the upcoming years. According to the data compiled by Navigant Research, the global market for car-sharing services is expected to grow 21.8 percent [...]