SEOUL, Aug. 7 (Korea Bizwire) — North Korean leader Kim Jong-un has attended a ceremony to dispatch young workers to flood-affected areas on the northern border, describing the restoration efforts as a “gigantic revolutionary construction campaign,” state media said Wednesday. The border city of Sinuiju and Uiju County in North Phyongan Province were recently struck [...]
SEOUL, Apr. 12 (Korea Bizwire) — The South Korean economy has largely been on a recovery track on the back of robust growth of exports and manufacturing production, but domestic demand remains weak and uncertainties have grown over global prices of raw materials, the finance ministry said Friday. “Our economy has seen an economic recovery [...]
SEOUL, Feb. 16 (Korea Bizwire) — The South Korean economy has recovered centering on the manufacturing field, but private consumption and construction investment remained weak leading to widening disparities among sectors, the finance ministry said Friday. “Growing production and exports of the manufacturing sector have led an economic recovery recently amid moderating inflationary pressure,” the [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea has shown growing signs of an economic recovery led by exports, though domestic demand remains weak, the finance ministry said Friday. “Signs of an economic recovery centering on exports have been rising, and inflationary pressure has been moderating. But the pace of recovery among sectors has been [...]
SEOUL, Oct. 20 (Korea Bizwire) — The South Korean economy is forecast to be on a recovery track next year but the pace will be “very gradual” as China’s significant economic slowdown and a recession in the United States would hinder the growth of its exports, a senior Fitch Ratings analyst said Friday. Jeremy Zook, [...]
SEOUL, Oct. 18 (Korea Bizwire) — Most South Korean industries are likely to see a modest recovery next year, with rechargeable batteries, automobile and shipbuilding sectors expected to show robust growth, according to a think tank Wednesday. The Hana Institute of Finance stressed the need to prepare for China’s slowing growth, strengthening of global environmental [...]
ANDONG, Nov. 6 (Korea Bizwire) — The two miners rescued from a collapsed mine in southeastern South Korea are quickly recovering, according to their families on Sunday. The pair — both surnamed Park and aged 62 and 56 — walked out alive after being trapped for more than nine days in the zinc mine in [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korean steelmaker POSCO said Friday it will complete repairs of manufacturing facilities damaged by a recent typhoon within three months and plan to fully normalize operations by December. Earlier this month, Typhoon Hinnamnor hit the country’s southeastern parts and severely flooded POSCO’s facilities in Pohang, about 270 kilometers [...]
SEOUL, June 2 (Korea Bizwire) — With Japan opening its borders to foreign tourists and China beginning to lift city blockades, low-cost carriers are facing hopes for recovery. Jeju Air Co. shares jumped from 18,950 won on May 26 to 21,700 won on May 31, up by 14.5 percent in just four days. Jin Air [...]
SEOUL, May 13 (Korea Bizwire) — Sales of music concert tickets have been rising rapidly in the wake of the lifting of almost all COVID-19 restrictions. According to Interpark, a local online reservation service, ticket sales of concerts planned for the second quarter of this year jumped 267 percent from a year ago. The upward [...]