SEOUL, May 30 (Korea Bizwire) – The government plans to develop a common label that can represent all quality products made by South Korean small and medium-sized enterprises (SMEs) that can facilitate marketing for exports, officials said Tuesday. The idea is similar to the “cross” label that is used on products made by Swiss companies [...]
SEOUL, Feb. 23 (Korea Bizwire) – Trickle-down effects from major South Korean businesses, creating a flow of benefits to smaller companies, are becoming less perceptible. In a report announced Wednesday by the Korea Small Business Institute, researchers said that “there’s now very little trickle-down effects between big companies and SMEs,” based on a statistical analysis [...]
SEOUL, Feb. 20 (Korea Bizwire) – Some 800,000 small businesses open shop annually, but about half of them go bankrupt within two years, statistics showed Monday. A report released by Statistics Korea said that among businesses that started in 2013, 62.4 percent were still in operation a year later. The rate fell to 47.5 percent [...]
SEOUL, Dec. 30 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning announced Thursday some of the most successful ventures by startups and SMEs funded or supported by the Center for Creative Economy & Innovation. One of the companies introduced was 247 Korea, which manufactures a self-protection smartphone case that can automatically send [...]
SEOUL, Dec. 20 (Korea Bizwire) – A growing number of small and medium enterprises (SMEs) in South Korea are turning to high-interest loans from nonbank lenders as banks tighten their loan screening, data showed Tuesday. As of end-October, outstanding SME loans from nonbank financial institutions came to 76.6 trillion won (US$64.4 billion), up 31.2 percent [...]
SEJONG, Nov. 30 (Korea Bizwire) – The South Korean government said Wednesday that it will expand a program to help young job seekers find jobs at small and mid-sized enterprises (SMEs) and create assets in a way to tackle the country’s high youth unemployment rate. Under the program, which was initiated in April, an SME [...]
SEOUL, Nov. 29 (Korea Bizwire) – Eight out of ten Korean small and medium-sized companies have a very unfavourable view of the current state of economic affairs in Korea. A recent survey related to the current financial environment, targeting employees in three hundred SMEs, showed that 85.7 percent thought the country was in a financial [...]
SEOUL, Nov. 16 (Korea Bizwire) – Facebook Korea announced Tuesday the launch of its new “Business Hub”, a platform that will connect millions of global Facebook users with entrepreneurs and content developers from Korea. According to Dan Neary, vice president of Asia Pacific at Facebook, Facebook will be supporting SMEs, startups, and content developers so [...]
SEOUL, Aug. 25 (Korea Bizwire) – As many large firms have been aggressively repaying their debts, bank loans to large companies dropped to a 10-month low in July. Unlike the increase in the number of bank loans to SMEs, large companies are turning to direct financing channels including bonds, commercial paper (CP) and stock issuance. According [...]
SEOUL, Jan. 1 (Korea Bizwire) — Nine out of ten Korean SMEs are not planning to raise their capital requirements this year, according to a report by the Korea Federation of SMEs. The report deals with 300 SMEs in Korea, and only 10 percent of those surveyed said that they are going to increase their [...]