industries Archives | Be Korea-savvy
Industries with Unavoidable Physical Contact Hit Hardest by Coronavirus Outbreak

Industries with Unavoidable Physical Contact Hit Hardest by Coronavirus Outbreak

SEOUL, March 4 (Korea Bizwire) — Different industries are experiencing a variety of outcomes with the novel coronavirus outbreak prompting people to avoid face-to-face contact. The e-commerce market is rapidly expanding as “untact consumption,” referring to consumption without face-to-face contact, continues to gain popularity. However, the service sector, where customers and employees have direct physical [...]

Businesses Resort to Layoffs as Coronavirus Outbreak Spreads

Businesses Resort to Layoffs as Coronavirus Outbreak Spreads

SEOUL, Feb. 27 (Korea Bizwire) — South Korean companies are engaging in preventive restructuring to offset the economic impact from the coronavirus outbreak. Even conglomerates, traditionally strong employers offering quality recruitment opportunities, are announcing a series of restructuring plans, adding to the fear already rampant in the labor market. Doosan Heavy Industries & Construction Co., [...]

Sugar, Beer, Cigarette Industries Dominate for Decades with Little Investment

Sugar, Beer, Cigarette Industries Dominate for Decades with Little Investment

SEOUL, Dec. 30 (Korea Bizwire) — Industries including tobacco, beer and sugar that have been monopolizing the market for decades are very stingy with investments such as research and development (R&D), due to lack of pressure from foreign countries to compete due to high concentration in the domestic market. According to the results of the [...]

Shorter Workweek to be Enforced in More Industries Starting in July

Shorter Workweek to be Enforced in More Industries Starting in July

SEOUL, Jun. 30 (Korea Bizwire) — Additional industries, including bus, financial and broadcasting firms, will be required to implement the 52-hour workweek rule starting next month, the labor ministry said Sunday. In July 2018, the shorter workweek went into effect for companies with more than 300 employees, but 21 industries, including regular-route bus services, broadcasting, [...]

Korean Shipbuilders Blindsided, Lose Contract to Chinese Rivals

Korean Shipbuilders Blindsided, Lose Contract to Chinese Rivals

SEOUL, Aug. 21 (Korea Bizwire) – The domestic shipbuilding industry was engulfed in a wave of low spirits as shipping publication “Tradewinds” and eBest Investment and Securities (eBest) both reported that French company CMA CGM had signed a letter of intent with two Chinese shipbuilding firms for nine container ships. The reason for the Korean [...]