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Majority of New Recruits in Manufacturing Sector are Over 60s: Data

Majority of New Recruits in Manufacturing Sector are Over 60s: Data

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 [...]

S. Korea’s Domestic Supply in Manufacturing Down 3.3% in Q4

S. Korea’s Domestic Supply in Manufacturing Down 3.3% in Q4

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 [...]

Booming Semiconductor Industry Having Little Impact on Mining and Manufacturing Industries

Booming Semiconductor Industry Having Little Impact on Mining and Manufacturing Industries

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 [...]

Industrial Output on the Rise Across All Sectors

Industrial Output on the Rise Across All Sectors

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 [...]

Chinese Shipbuilders Win Huge Chunk of Orders from S. Korean Shippers

Chinese Shipbuilders Win Huge Chunk of Orders from S. Korean Shippers

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 [...]

China Quickly Catching up with South Korea’s Core Industries

China Quickly Catching up with South Korea’s Core Industries

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 [...]

South Korean Manufacturers Seek Cheap Labor, but Lack Productivity

South Korean Manufacturers Seek Cheap Labor, but Lack Productivity

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” [...]