SEOUL, June 12 (Korea Bizwire) — The proportion of South Korean companies unable to cover their interest expenses with operating profits reached an all-time high in 2024, underscoring persistent financial stress among smaller firms despite improved overall corporate earnings. According to the Bank of Korea’s annual corporate management analysis released Wednesday, 40.9% of non-financial, for-profit companies [...]
SEOUL, Oct. 28 (Korea Bizwire) — Small and medium-sized enterprises (SMEs) account for an absolute majority of businesses in South Korea, with their workforces taking up nearly 83 percent of all corporate employees, data showed Thursday. As of 2019, smaller firms in Asia’s fourth-largest economy numbered 6.89 million, up 3.8 percent from a year earlier [...]
SEOUL, Sept. 27 (Korea Bizwire) — South Korea said Monday it plans to increase support for overseas expansion by startups and smaller firms as part of efforts to strengthen its ties with Southeastern Asian countries and nations in Eurasia. The government plans to further promote economic cooperation with the 10-member states of the Association of [...]
SEOUL, June 14 (Korea Bizwire) — South Korea’s smaller forms on Monday called for a further delay in enforcing the 52-hour workweek system for them set to take effect next month amid the extended COVID-19 pandemic. In a joint statement, the country’s business lobby groups, such as the Korea Chamber of Commerce and Industry and [...]
SEOUL, Sept. 22 (Korea Bizwire) — Nearly 3 in 10 smaller companies in South Korea think they may not stay afloat for one year or longer due to the impact of the prolonged coronavirus impact, a poll showed Tuesday. The survey of 50 small and medium-sized enterprises (SMEs), taken by the Federation of Korean Industries, [...]