SEOUL, April 18 (Korea Bizwire) — The number of jobs supplied by restaurants and bars rose on-year in the second half of 2022, data showed Tuesday, as the country returned to pre-pandemic normalcy. Local restaurant businesses employed 1.6 million people in the July-December period, up 43,000 from a year earlier, according to the data compiled [...]
SEOUL, Dec. 23 (Korea Bizwire) — Sales of South Korea’s service industry increased 10.5 percent on-year in 2021 on the back of leisure and communication businesses, data showed Friday. Service sector sales came to 2,814 trillion won (US$2.2 trillion) last year, compared with 2,547 trillion won tallied in 2020, the data compiled by Statistics Korea [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s finance minister said Wednesday the government will make efforts to create some 300,000 jobs by 2025 in the service sector that has borne the brunt of the COVID-19 pandemic. Finance Minister Hong Nam-ki unveiled a road map on developing the service industry, under which the country will [...]
SEJONG, Aug. 13 (Korea Bizwire) — South Korea said Thursday it will revamp the country’s export portfolio and foster its service industry as a new growth engine to revitalize its virus-hit outbound shipments. The country’s service exports reached US$43.8 billion over the January-June period, down 17.9 percent from a year earlier. The Ministry of Trade, [...]
SEOUL, May 26 (Korea Bizewire) — Falling tourist arrivals due to the new coronavirus outbreak is expected to dent the South Korean service industry’s added value and employment this year, a report said Tuesday. Battered by the coronavirus pandemic, the number of foreign tourists to South Korea came to 2.04 million in the first quarter [...]
SEJONG, May 29 (Korea Bizwire) – South Korea’s industrial output dropped at a faster clip in April than a month earlier, a government report showed Friday, escalating concerns over the performance of Asia’s fourth-largest economy. According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries was down 1.2 percent [...]