SEOUL, Sept. 29 (Korea Bizwire) – Members of the joint council for small and medium-sized enterprises, which represents 15 of Korea’s SME societies, gathered for a press conference Wednesday denouncing the prolonged strike by Hyundai Motor’s labor union, and expressing their will to boycott the automaker if the situation continues. It marked the first time [...]
SEOUL, Sept. 29 (Korea Bizwire) – Workers at small and medium-sized companies on average were paid only 60 percent of the salary that people at bigger conglomerates got in 2015, a gap that has stayed about the same for the fifth year, records showed on Thursday. Statistics provided by the Small and Medium Business Administration [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korean banks’ lending to large companies fell in the first nine months of the year amid a protracted economic slump, despite an upturn in overall loans, industry data showed Monday. Outstanding loans extended by Shinhan Bank, Kookmin Bank and four other major lenders reached 1,035.85 trillion won (US$898.6 [...]
SEOUL, Jun. 15 (Korea Bizwire) — The Korean government will spend 5 billion won (US$ 4.48 million) on Korean SMEs to develop three-wheeled mini EVs until 2016, according to an announcement on June 14. The Ministry of Trade, Industry and Energy (MOTIE) already initiated a 7 billion won (US$ 6.28 million) project last year to develop [...]
Seoul, Mar. 2 (Korea Bizwire) — Samsung Group will develop about 400 ‘smart factories’ in Gyeongsangbuk-do in collaboration with the Gyeongbuk Creative Economy Center, by 2017. The partners will jointly develop fully automated assembly factories based on MES (Manufacturing Execution System) and IoT (Internet Of Things) technologies. These factories will be also equipped with tailored [...]
SEOUL, May 24 (Korea Bizwire) – A study said it takes an average of 19 years for a small- or mid-sized firm to graduate from that status and move up the rank of an enterprise of middle standing. According to a report by the Korean Chamber of Commerce and Industry based on a survey on [...]
![[Feature] How to Revive Flagging SME Sector](http://koreabizwire.com/wp/wp-content/uploads/2014/05/SME-800x497.png "[Feature] How to Revive Flagging SME Sector")
SEOUL, May 23 (Korea Bizwire) – The share of the big-three retailers, including Lotte, Shinsegae, and Hyundai, in the nation’s retail market reaches up to 80 percent. Even amid a host of policy measures designed to revive small- and medium-sized merchants, the market is still dominated by a few oligopolistic players. Lim Chae-woon, Professor of marketing at [...]