SEOUL, Oct. 27 (Korea Bizwire) — Three in 10 workers in the manufacturing sector are over 50 years of age, with a rapidly increasing proportion of senior workers, a report said Wednesday. The Federation of Korean Industries (FKI) reported that the proportion of senior workers over 50 years of age jumped from 11 percent in [...]
SEOUL, Oct. 18 (Korea Bizwire) — While employment in the manufacturing industry is recovering, there were more recruits from the older generation than the younger generation, data showed Monday. There were 4.53 million people employed in the manufacturing sector in August, up 240,000 from last year, according to Statistics Korea. Sorted by age, the number [...]
SEJONG, Feb. 7 (Korea Bizwire) – South Korea’s total supply in manufacturing fell in the fourth quarter from a year earlier on a decline in domestic supply, government data showed Wednesday. The manufacturing domestic supply index — which measures both goods produced locally and brought into South Korea — declined 3.3 percent on-year to stand [...]
SEOUL, Sept. 5 (Korea Bizwire) — According to figures released by Statistics Korea, the production diffusion index for the mining and manufacturing industries in July was calculated at 48.8. The production diffusion index is a tool that takes all of the eighty sub-industries included in the mining and manufacturing industries and measures the types that [...]
SEJONG, Aug. 31 (Korea Bizwire) — South Korea’s industrial output rose at the fastest pace in six months in July on gains in cars and electronic devices, government data showed Thursday. Production in the mining, manufacturing, gas and electricity industries climbed 1.9 percent on-month in July, turning around from a 0.5 percent on-month drop in [...]
SEOUL, May 22 (Korea Bizwire) – Chinese shipbuilders have received orders from South Korean shippers to build 13 ships so far this year, while their South Korean rivals clinched deals from local shippers to build just seven ships, industry sources said Monday. According to related data, local shippers have placed orders so far this year [...]
SEOUL, May 10 (Korea Bizwire) – The latest analysis from the Korea Institute for Industrial Economics & Trade has revealed that China will soon catch up with the quality and technology of South Korea’s core industries, further threatening Asia’s fourth-largest economy. In the report released Monday, the institute suggested that China would close the gap [...]
SEJONG, May 10 (Korea Bizwire) – South Korea’s total supply of manufacturing goods both locally produced and imported gained ground to reach a record high in the first three months of the year on the back of brisk chips industry and a sharp rise in imports, government data showed Wednesday. The manufacturing domestic supply index [...]
SEOUL, April 11 (Korea Bizwire) – The business sentiment index for the second quarter rose from the previous quarter, but pessimism still outweighed optimism overall, the Korea Chamber of Commerce and Industry (KCCI) said Tuesday. A survey of some 2,200 manufacturing firms put the business sentiment index at 89 in the second quarter, up 21 [...]
SEOUL, April 4 (Korea Bizwire) – Recent data from the Korea Trade-Investment Promotion Agency (Kotra) reveals that 82 percent of local manufacturers are prioritizing seeking cheaper labor outside of the country, ultimately undermining their productivity. Based on the business performance of 1,474 South Korean manufacturers with overseas plants, 12.6 percent fell within Kotra’s “high-cost, high-productivity” [...]