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Untact Services Will Dominate Service Industry in Post-coronavirus Era

Untact Services Will Dominate Service Industry in Post-coronavirus Era

SEOUL, May 19 (Korea Bizwire) — The coronavirus pandemic is giving way to so-called ‘untact’ (no contact) services such as online shopping and delivery applications as a new alternative for the service industry. Experts argue that policy support is in order to allow new business models to settle in the market as untact services are [...]

Political Uncertainty Taking a Toll on Service Industry

Political Uncertainty Taking a Toll on Service Industry

SEOUL, Feb. 1 (Korea Bizwire) – Amid the ongoing political scandal that has been at the center of national attention for the past three months, a report by the Bank of Korea revealed that political uncertainties tend to pose negative effects mainly on consumption, capital investment, and the service industry.  The BOK analyzed nine key [...]

IMF Director Advises Seoul to Deregulate Service Sector

IMF Director Advises Seoul to Deregulate Service Sector

SEOUL, Aug. 12 (Korea Bizwire) – South Korea has to carry out sweeping reform of the service industry as a first step to transform the manufacturing-focused economy into the service sector-led economy, a Korea-born official from the International Monetary Fund (IMF) said Friday.  “The South Korean economy has been steered by the manufacturing industry and [...]