SEOUL, Dec. 21 (Korea Bizwire) – The number of newly established companies in South Korea fell for the second consecutive year in 2022 amid an economic slowdown, data showed Thursday. Some 997,000 businesses were newly established last year, down 3.5 percent from a year earlier, according to the data compiled by Statistics Korea. In 2021, [...]
SEOUL, Dec. 12 (Korea Bizwire) – In a strategic move to bolster its efforts to uncover groundbreaking technology and business opportunities, Samsung Electronics recently announced a significant organizational restructure, including the establishment of a new Business Development Group within its Digital Experience (DX) division. The newly formed Business Development Group will serve as a central hub [...]
SEOUL, July 1 (Korea Bizwire) — LG Uplus Corp., one of three mobile carriers in South Korea, is aiming to boost its profile by expanding media and business-focused services beyond its established focus in telecommunications, its chief has said. Hwang Hyeon-sik, CEO of LG Uplus, said in a press conference Wednesday that he aims to [...]
SEOUL, May 26 (Korea Bizwire) – Starting a new business in South Korea requires an average 200 million won (US$178,491) in starting money, and it takes about four years to break even, a stage that more than 60 percent of the startups don’t reach because they are forced to close before then, a report said [...]
SEOUL, Feb. 8 (Korea Bizwire) – Last year was a good one for new businesses, with entrepreneurs establishing a record 96,155 new ventures for a year-over-year increase of 2.5 percent from 93,788 in 2015. According to the Small & Medium Business Administration, the annual number of new businesses has been rising since 2008, which recorded [...]
SUWON, Jun. 26 (Korea Bizwire) — Gyeonggi-do is planning to provide big-data based analysis on commercial areas for individuals or companies planning to open new businesses in the province. The Gyeonggi Provincial Assembly has pre-announced legislation for an ordinance to develop a system for the analysis, said the assembly on June 25. The system will [...]