SEOUL, Dec. 28 (Korea Bizwire) – South Korean companies are pessimistic about their business conditions in 2018 due to unfavorable factors at home and abroad, a poll showed Thursday. The business survey index (BSI) of the nation’s top 600 firms by sales came to 96.5 for January, unchanged from the previous month, according to the [...]
SEOUL, Aug. 12 (Korea Bizwire) — A new economic report has argued that a score of South Korean conglomerates fighting legal battles with labor unions over so-called ‘ordinary wages’ could be forced to pay out as much as 8 trillion won under the worst-case scenario. There are currently 35 companies involved in over 103 disputes over [...]
SEOUL, July 3 (Korea Bizwire) – South Korea will not undergo a sharp drop in consumption despite the ever-rising household debt, a private think tank said Monday, citing growth in property and financial asset value. Households where the head of the family was over 55 have witnessed a 94.51 percent rise in income and 78.32 [...]
SEOUL, June 28 (Korea Bizwire) – A private think tank urged the government Wednesday to exempt taxes on income earned by South Korean multinationals abroad so they can easily repatriate funds that can fuel investment in the country. “The core of the new U.S. administration’s tax reform revealed in April is centered on the country [...]
SEOUL, Aug. 25 (Korea Bizwire) – It turns out that the Sinbaram Festival celebrating the 70th anniversary of independence, the designation of a temporary holiday, and the early Korea Grand Sale have had a great influence on the depressed economy. The Korea Economic Research Institute published a report analyzing the effects of the events that [...]
SEOUL, June 28 (Korea Biziwre) — A South Korean think tank downgraded the country’s economic growth forecast for 2015, citing weak exports coupled with the outbreak of Middle East Respiratory Syndrome, which has claimed 32 lives. The Korea Economic Research Institute said it has slashed the economic growth forecast to 2.7 percent for 2015, compared [...]
SEOUL, May 6 (Korea Bizwire) — A strict regulation that bans nighttime online gaming for children has led to a 1.16 trillion won (US$1.07 billion) loss in the South Korean games industry, a report showed Wednesday. Also known as the “forced shutdown system,” online game operators are currently prohibited from providing services to children under [...]
SEOUL, Nov. 20 (Korea Bizwire) – Korean parents want their children to become public officials, though they think entrepreneurship is important for our society, according to a Korea Economic Research Institute study surveying 2,000 Korean adults. When respondents were asked what kind of job they or their children would like to have, 34 percent answered [...]