SEOUL, Apr. 2 (Korea Bizwire) – As cyberattacks escalate in South Korea, new data reveals that smaller enterprises are bearing the brunt of the damage, according to the Korea Internet and Security Agency (KISA). KISA figures show a sharp rise in reported cyber incidents, from 630 cases in 2020 to 1,227 in 2023 – nearly doubling [...]
HONG KONG SAR, May 12 (Korea Bizwire) - Investors have used credit ratings to assess a company’s financing risk, but small- and medium-sized enterprises (SMEs) are often completely left out of the game. A CUHK Business School-led study promises to level the playing field and change the credit-rating landscape by looking into supply chain factors. It [...]
SEOUL, March 30 (Korea Bizwire) — The management performance of the small and mid-sized enterprises (SMEs) that introduced a smart factory in collaboration with large companies is stronger than other SMEs, a local business lobby group said. The Korea Federation of Small and Medium Businesses analyzed the performance results of the ‘win-win smart factory project.’ [...]
SEOUL, June 22 (Korea Bizwire) — South Korea’s leading steelmaker POSCO is taking active steps to help small and medium-sized enterprises (SMEs) that are having difficulty exporting their products due to a shortage of vessels and recent hikes in freight rates. On Monday, the company signed a memorandum of understanding (MOU) with the state-run Korea [...]
BUSAN, March 11 (Korea Bizwire) — The Busan metropolitan government said Wednesday the launch of a program to subsidize the cost of leasing electric vehicles (EVs) for young adults who get jobs at small and medium-sized enterprises (SMEs) located in Gangseo District and Gijang County. The program is aimed at addressing the traffic inconvenience for [...]
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, [...]
SEOUL, Jan. 24 (Korea Bizwire) — The total amount of investment in startups reached a record high last year amid hopes of lucrative returns and policy backup, government data showed Thursday. A total of 3.43 trillion won (US$3.04 billion) was invested in startups last year, up 43.9 percent from the previous record high of 2.38 [...]
SEOUL, Nov. 7 (Korea Bizwire) — The South Korean government is striving to come up with alternative profit-sharing schemes between large corporations and small-and-medium-sized companies with the intention of promoting a more horizontal relationship between them. The government is also looking to implement a coexistence model where both large corporations and SMCs can achieve a win-win [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea’s small and medium-sized enterprises (SMEs) employ 88 percent of the country’s workforce, but their labor productivity stops at a third of that of large companies, a working paper from the Organization for Economic Cooperation and Development (OECD) said Thursday. Titled “Enhancing dynamism in SMEs and entrepreneurship in [...]
SEOUL, Aug. 6 (Korea Bizwire) — Companies that share similar production processes will be able to finance high-quality “smart” factories cost-effectively by coming together in clusters of five or more. The Ministry of SMEs and Startups revealed yesterday that it would be partially funding the establishment of factories that would benefit companies through economies of [...]