SEOUL, Dec. 28 (Korea Bizwire) – Overseas units of South Korean companies lost money in 2015 for the first time since the global financial crisis due mainly to a slowdown in global demand, a report said Wednesday. About 6,000 wholly owned subsidiaries in foreign countries registered an average net loss of US$700,000 last year, the [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korean households’ overseas spending rose 16.8 percent in the third quarter from a year earlier on increased outbound travel to foreign countries, the central bank said Tuesday. South Korean households spent 8.21 trillion won (US$7 billion) overseas in the July-September period, compared with 7.03 trillion won in the [...]
SEOUL/SEJONG, Jan. 28 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government will make determined efforts to help companies make headway into untapped overseas markets like Iran, and revive exports as Asia’s fourth largest economy strives keep alive its economic momentum in the coming months. “We are facing challenges as uncertainties are [...]
SEOUL, Jan.26 (Korea Bizwire) – The Chinese Spring Festival, which is the biggest holiday in China, and the period when the most Chinese people travel abroad, will start in two weeks. As Chinese tourists are known for clearing out the shelves when shopping, nearby countries such as Korea and Japan are looking forward to the [...]
SEOUL, Dec. 7 (Korea Bizwire) – S.M. Entertainment will continue to tighten its stranglehold on overseas markets, as it celebrates its 20th anniversary this year, its CEO said Monday. Kim Young-min, who took the helm after founder Lee Soo-man relinquished the post in 2005, attributed the agency’s success to its pioneering spirit. “S.M. is what [...]