SEOUL, July 24 (Korea Bizwire) — South Korea’s trade volume is forecast to hit a five-year low this year as a stronger local currency and low oil prices weigh heavily on Asia’s fourth-largest economy, data showed Friday. The country’s exports reached US$268.7 billion in the first six months of the year, down 5.1 percent from [...]
SEOUL, March 23 (Korea Bizwire) — A special financial service that converts a variable rate loan into a fixed rate loan will be launched by 16 Korean banks on March 24, as part of the Korean government’s efforts to mitigate household debt. However, each branch is expected to offer the service to an average of only [...]
SEOUL, Jan. 14 (Korea Bizwire) – More than half of Koreans in their twenties disagree with the idea that hard work leads to a better life, according to a report by the LG Economic Research Institute (LGERI) based on the World Values Survey Association’s (WVSA) survey results from 1995 to 2014. The WVSA has been conducting [...]
“A study claimed that Korea’s per-person gross domestic products will surpass that of Japan by 2020. As the per-capita GDP difference between the two countries is projected to be at the historic low level this year, it seems the journey to catching up with Japan has already begun.” “The International Monetary Fund recently forecast that [...]
SEOUL, July 30 (Korea Bizwire) – Amid an enviable situation of the rising current account surplus, a controversy broke out that claims the rising surplus is a worrisome sign. According to this argument, the rising current account surplus is largely due to weak domestic consumption and a fall in imports, rather than an indication of Korean industry’s [...]
SEOUL, May 26 (Korea Bizwire) – The Korean economy is in trouble because of the strengthening won vis-à-vis the U.S. dollar. For years most exporters have been too complacent under the regime of a weak won that granted them easy access to overseas markets. Even some analysts suggest that the won-dollar exchange rate may fall [...]
SEOUL, Korea, April 17, 2014 (Korea Bizwire) – A study said the rise in the number of one-person households has contributed to increasing the overall consumption. According to a report “Single Households Change the Landscape of Consumption” published by LG Economic Research Institute on April 7, by the year 2020 the consumption increase attributed to [...]
SEOUL, Korea, April 8 (Korea Bizwire) – Korea is one of the few countries with an unusually high percentage of real assets, including most prominently homes. A household finance survey by the National Statistical Office on April 7 said the ratio of real assets in total household assets as of 2013 was as high as [...]
![[Kobiz Feature] LG Economic Research Institute Report: Cases of Business Model Innovation](http://koreabizwire.com/wp/wp-content/uploads/2014/01/5134654297_cb4487f426_z.jpg "[Kobiz Feature] LG Economic Research Institute Report: Cases of Business Model Innovation")
SEOUL, Korea, Jan 01 (Korea Bizwire) – In today’s marketplace in which companies fight tooth and nail to gain shares by any means, companies do everything to differentiate their products and services. But they face a situation where the room for differentiation is getting narrower. According to a report by global management consulting firm Frost & [...]