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Carmakers to Face Heavy Output Losses if Coronavirus Outbreak Continues

Carmakers to Face Heavy Output Losses if Coronavirus Outbreak Continues

SEOUL, Feb. 5 (Korea Bizwire) – South Korean carmakers may face hefty production losses as the rapidly spreading coronavirus outbreak is aggravating shortages of parts from China without signs of slowing. The country’s five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., SsangYong Motor Co. and Renault Samsung Motors Corp. — have [...]

Confectionery Industry Faces Decline Due to Shrinking Child Population

Confectionery Industry Faces Decline Due to Shrinking Child Population

SEOUL, Jan. 31 (Korea Bizwire) — The confectionery industry is being threatened by the decreasing population of toddlers and teens, major consumers of confectionery goods, as the birth rate continues to fall in South Korea. The Korea Agro-Fisheries & Food Trade Corporation reported that confectionery production began to fall after reaching a peak in 2015 [...]

S. Korea’s Industrial Output Dips 2 Pct On-Yr in Sept.

S. Korea’s Industrial Output Dips 2 Pct On-Yr in Sept.

SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s industrial output dropped in September to snap a four-straight month rise on a slump in auto output and mobile devices, a government report showed Monday.  Production in the mining, manufacturing, gas and electricity industries fell 2 percent last month from a year ago, according to the report [...]

S. Korea’s Economy Still Swayed by Feeble Production, Exports: Gov’t Report

S. Korea’s Economy Still Swayed by Feeble Production, Exports: Gov’t Report

SEJONG, Oct. 11 (Korea Bizwire) – The South Korean economy has been experiencing a bumpy recovery as a slowdown in production and exports dragged down an apparent upturn in domestic demand, a government report said Tuesday.  “The economy has been on a flaccid recovery track as private consumption and investment have made a turnaround in [...]

Quake Triggers Safety Concerns, Halting Production Facilities

Quake Triggers Safety Concerns, Halting Production Facilities

SEOUL, Sept. 13 (Korea Bizwire) – A number of South Korean businesses were forced to halt their production and assembly lines for safety inspections Tuesday, one day after a powerful quake rocked the country.  Nearly a dozen major industrial facilities, including a power plant, had their operations halted after a 5.8-magnitude earthquake jolted the nation, [...]